What is the correct cash balance at July

Assignment Help Accounting Basics
Reference no: EM132625005

Question - In preparing the bank reconciliation of Royal Company for the month of July, the following information is available:

Balance per bank statement, 7/31 P 54,075

Deposits in transit, 7/31 9,375

Outstanding checks, 7/31 8,625

Deposit erroneously recorded by bank to Royal account 375

Bank service charge for July 75

Required - What is the correct cash balance at July 31?

Reference no: EM132625005

Questions Cloud

What amount should be reported as cash : Check drawn on Solid's account, payable to a vendor, On Solid's December 31, 2017 balance sheet, what amount should be reported as cash
What is the sociological imagination : 1) What is the Sociological Imagination? Describe and explain it.
What is the statement of learning : The teacher uses effective instructional strategies to help students make cross-curricular connections. What is the statement of learning?
What is the direct product cost per cake using gaap : Assume that the manufacturing overhead charged to cake is $80,000. What is the direct product cost per cake using GAAP accounting rules?
What is the correct cash balance at July : In preparing the bank reconciliation of Royal Company for the month of July, the following information is available: What is the correct cash balance at July
What would you insist be in your employment agreement : What would you insist be in your employment agreement and What obligations do you have for the potential tax issues? How would you document or discuss
Assess other intrinsic and extrinsic motivators : Assess other intrinsic and extrinsic motivators that SEIIC should consider in its redesign effort, including pros and cons of those motivators.
Comparison to the rest of the population : In recent years in the United States, citizens have increasingly made claims that our judicial system is institutionally racist.
Compare the slaves and condition of black : Compare the slaves and condition of black and white indentured servants.

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