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The following information is available for Sedona, Inc., as of May 31, 2014: a. Cash on the books as of May 31 amounted to $42,754.16. Cash on the bank statement for the same date was $52,351.46. b. A deposit of $5,220.94, representing cash receipts of May 31, did not appear on the bank statement. c. Outstanding checks totaled $3,936.80. d. A check for $1,920.00 returned with the statement was recorded incorrectly in the check register as $1,380.00. The check was for a cash purchase of merchandise. e. The bank service charge for May amounted to $25. f. The bank collected $12,360.00 for Sedona, on a note. The face value of the note was $12,000.00. g. An NSF check for $183.56 from a customer, Eva Mendez, was returned with the statement. h. The bank mistakenly charged to the company account a check for $850.00 drawn by another company. i. The bank reported that it had credited the account for $120.00 in interest on the average balance for May. Required 1. Prepare a bank reconciliation for Sedona as of May 31, 2014. 2. Prepare the journal entries necessary to adjust the accounts. 3. What amount of cash should appear on Sedona's balance sheet as of May 31? 4. Why is a bank reconciliation considered an important control over cash?
comprehensive exercise second production department-weighted-average method lo2 lo3 lo4 lo5 papyrutech corporation
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What are some significant provisions of the Sarbanes-Oxley Act of 2002? Do any of you have to comply with these standards? - Answer 100-250 words.
vandross company has recorded bad debt expense in the past at a rate of 1.5 of net sales. in 2012 vandross decides to
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preferred products has the following cost information available for 2009direct materials 4.00 per unitdirect labor 3.00
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