User Account

All Pages

Prepare a bank reconciliation for july

Assignment Help Accounting Basics
Reference no: EM131660645

Question -

The bank statement for Adcock Company indicates a balance of $830 on July 31. The cash balance per books had a balance of $390 on this date. The following information pertains be the bank transactions for the company.

1. Deposit of $840 representing cash receipts of July 31, did not appear on the bank statement.

2. Outstanding checks totaled $390.

3. Bank service charges for June amounted to $30.

4. The bank collected a note receivable for the company for $1,200 plus $48 interest revenue.

5. A NSF check for $328 from a customer was returned with the statement.

Required -

a. Prepare a bank reconciliation for July 31.

b. Prepare any adjusting entries necessary as a result of the bank reconciliation.

Reference no: EM131660645

Questions Cloud

Describe the issues that you feel made it unsuccessful : Discuss an ineffective healthcare policy that you personally experienced in your practice and describe the issues that you feel made it unsuccessful
Competing philosophies influence the role of marketing : Four competing philosophies influence the role of marketing and marketing activities within an organization.
Explain the telephone cooperative act : Corporate Powers. Inter Bel Telephone Co-operative, Inc., is a Montana corporation organized under the Montana Rural Electric and Telephone Cooperative Act.
The globalcom products spam filter : The Ohio Department of Corrections, as a result of watching this effort, is deploying the Globalcom product for their organization.
Prepare a bank reconciliation for july : The bank statement for Adcock Company indicates a balance of $830 on July 31. Prepare a bank reconciliation for July 31
Discuss older adult client who is receiving gentamicin : A nurse is caring for an older adult client who is receiving gentamicin
Identify the potential gaps in organizational effectiveness : Assess the organization's competitiveness over the next ten years. Identify the potential gaps in organizational effectiveness related to staffing.
Market interest rates increase : A 20-year bond is issued with face value of $1000, paying 6% coupon. If the market interest rates increase shortly after the bond is issued, what happens.
Large-scale integrated circuit chips : Large-scale integrated (LSI) circuit chips are made in one department of an electronics firm.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd