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Western Flyers received its bank statement for the month of July with an ending balance of $11,065.00. Western Flyers determined that check #598 for $125.00 and check #601 for $375.00 were both outstanding. Also, a $7,500.00 deposit for July 30th was in transit as of the end of the month. Big Bucks Bank also collected a $5,000.00 notes receivable on July 1st that was issued January 1st at 12% annual interest. No interest revenue has been accrued on this note and Big Bucks Bank charged a $15.00 fee for the collection service.The company?s morning reports resulted in a bank service charge of $20.00 and a customer check for $75.00 was returned with the statement marked ?NSF?. The ending balance of the Western Flyers cash account is $12,875.00.Complete a bank/account reconciliation and write any necessary journal entries for the reconciliation.
The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:
1. nick and bethany are married and file a joint tax return claiming their two children ages 12 and 9 as dependents.
Assume that the market interest rate at the date of issuance is 10 percent (5 percent per semiannual period). What is the issue price of the bond?
lowe manufacturing co. warrants its products for one year. the estimated product warranty is 4 of sales. assume that
Ridge Road Company acquired 30 percent of the voting shares of Sauk Trail, Inc. for $4,400,000 in cash. Both companies provide commercial Internet support services but serve markets in different industries. Ridge Road made the investment to ga..
moran owns a building he bought during year 0 for 230000. he sold the building in year 6. during the time he held the
Section 212 addresses expenses for the production or collection of income and tax return preparation fees. Which of the following is not a Section 212 deduction?
the following information is available for prime company as of april 30 2011a. cash on the books as of april 30
rate of returnnbspnbspscenarioprobabilitystocksbondsnbspnbsprecession.20?519nbspnbspnormal
avocado company has an operating income of 108000 on revenues of 1002000. average invested assets are 507000 and
1 using the allowance method of accounting for uncollectible receivables the entry to reinstate a specific receivable
The private sector organization currently responsible for setting financial accounting standards in the United States.
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