Prepare the bank reconciliation at the end of September

Assignment Help Accounting Basics
Reference no: EM132522442

Question - Mish Ltd. reported a cash balance of $41,000 in the general ledger, but the bank statement reported a balance of $31,400 at the end of September 2009.

You have ascertained that the bank cashed a cheque on this account, in the amount of $6,500, which was actually issued by Mish Ltd.; this was an error made by the bank. There was also an outstanding deposit of $5,900, an amount that was deposited by Mish at the end of September. Outstanding cheques were $3,000, and there was an error made by Mish's bookkeeper, who recorded a cheque to a supplier at $1,700 when it was really $2,600. Bank fees of $900 have not yet been recorded by Mish, and neither was a direct deposit of $1,600 by a customer, who paid Mish directly to Vish's bank account.

Required - Prepare the bank reconciliation at the end of September 2009.

Reference no: EM132522442

Questions Cloud

Difference between the value of the sample mean : A population consists of 400 elements. We want to draw a simple random sample of 40 elements from this population. On the first selection
What is the size of the equal payments : Dan borrowed $1460.00 today and is to repay the loan in two equal payments. What is the size of the equal payments
Describe period of personal growth : Reflect on an accomplishment, event, challenging situation, or any sort of experience that sparked personal growth, maturation, or new understanding.
Explain the notion that firms should stop doing business : Explain the notion that firms should stop doing business with customers who constantly generate losses versus the notion that the customer is always right.
Prepare the bank reconciliation at the end of September : You have ascertained that the bank cashed a cheque on this account, in the amount of $6,500, Prepare the bank reconciliation at the end of September
Why do think market segmentation is important : Why do you think market segmentation is important and what impact could it have on a company? Does a successful company need to segment at all?
How much interest expense will HDR report : Determine the initial values of the various assets that HDR acquired or constructed during 2019. How much interest expense will HDR report
MITS6004 Enterprise Resource Planning Assignment : MITS6004 Enterprise Resource Planning Assignment Help and Solution, Victorian Institute of Technology - Assessment Writing Service
Differences between dominant and recessive alleles : describe what an allele is, then discuss the differences between dominant and recessive alleles. Provide an example of each type of allele in your discussion.

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.

  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!

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