What is the balance of the cash account

Assignment Help Accounting Basics
Reference no: EM132933493

Problem - The accounting records and bank statement of Sally's Seashell Store provide the following information at the end of April. The closing 'Cash' account balance was $15000, and the bank statement shows a closing balance of $13000. On reviewing the bank statement it is found an account customer has deposited $2000 into the bank account for a March sale and the monthly insurance premium of $5000 was automatically charged to the account. Interest of $500 was paid by the bank and a bank fee of $50 was charged to the account. A payment of $1500 to a supplier has been recorded twice in the accounts. After the calculation of the "ending reconciled cash balance", what is the balance of the 'cash' account?

Reference no: EM132933493

Questions Cloud

Find the future value of an investment : Find the future value of an investment of $2,000 made today for the following rates and periods: 10 percent compounded daily for 3 years
What a flexible budget is : What a flexible budget is? A budget which by recognising different cost behaviour patterns is designed to change as the volume of activity changes.
Identify binary interactions in the complex : You are given a yeast protein sequence in the lab that you have no information on its interacting partners.
Why is the climate drier on the eastern side : Why is the climate drier on the eastern side of our California mountain ranges than it is on the western slopes?
What is the balance of the cash account : The closing 'Cash' account balance was $15000, and the bank statement shows a closing balance of $13000. What is the balance of the cash account
What is the amount of the overhead under absorbed : What is the amount of the overhead under-/over-absorbed? Budgeted overheads Khs.493,200. Budgeted machine hours 10,960
Developing an injectable vaccine : After developing an injectable vaccine to protect people against the virus a researcher needs to test her hypothesis that the vaccine reduces the number of pati
Why do pike prey on fathead minnows : Many fish species, such as fathead minnows, release a pheromone when their skin cells are damaged. Researchers placed pike, a predator of fathead minnows, in a
What amount of gain or loss on transfer Blink recognize : On date of transfer, the fair value of property is 5,000,000 while its carrying value was P4,800,000. What amount of gain or loss on transfer Blink recognize

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