Solve the correct balance in the cash account

Assignment Help Financial Accounting
Reference no: EM132513117

Wolpworths Corp.'s book balance of the cash account shows an unadjusted balance of $72,000 before reconciliation. The following data was also available:

1. The bank statement does not include a deposit of $3,100 made on the last day of the month.

2. The bank statement shows a collection of a note receivable by the bank of $1,400 and a customer's cheque for $420 was returned because it was NSF.

3. A customer's cheque for $450 was recorded on the books as $540.

4. A cheque written for $185 was recorded as $851.

Required:

Question 1: Calculate the correct balance in the cash account.

Reference no: EM132513117

Questions Cloud

Example of a visual instructional material : Example of a visual instructional material which showcases the principle of Fluid Mechanics.
Assault and battery : Did Mary commit Embezzlement, Theft, Larceny or Robbery with respects to the watch? Battery or an "Assault and Battery" against Michael?
Which forecasting method is the most accurate : Discuss the advantages and disadvantages of your proposed layout compared to another alternative layout type in terms of demand volume, flexibility, labor skill
HI6005 Research Paper Assignment : This assignment aims at ensuring that students have familiarised themselves with a general framework of at least one management related topic
Solve the correct balance in the cash account : Wolpworths Corp.'s book balance of the cash account shows an unadjusted balance of $72,000,Calculate the correct balance in the cash account.
Mabel hollingsworth : Prepare a will for Mabel Hollingsworth. She is single, has no children, and lives in Virginia. State which clauses you would include in Mabel's will.
How much would the share price increases : Its corporate tax rate is 35% and its cost of equity is 10%. How much would the share price increases if the company decides to issue $1,000,000 bonds?
Example of life problems : Example of life problems wherein the Archimedes principle was being applied. And kindly include SOLUTIONS.
Provide the entry to record purchase of the bonds on august : Provide the entry to record the purchase of the bonds on August 1, 2017. On August 1, 2017, Mrarley Inc. acquired $180,000 (face value) 10% bonds

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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