What was the balance in the cash account

Assignment Help Accounting Basics
Reference no: EM13123863

On October 31, a company's Cash account had a normal balance of $7,000. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What was the balance in the Cash account at the beginning of October?

Reference no: EM13123863

Questions Cloud

Illustrate what amount did zell contribute to the business : Jell and Dell were partners with capital balances of $600 and $800 and an income sharing ratio of 2:3. They admitted Zell to a 30% interest in the partnership, and the total amount of goodwill credited to the original partners was $700. Illustrate..
Write a letter to david in which you advise him : Write a letter to David in which you advise him on the deductibility of the $60,000 loss for Federal income tax purposes. Because David is a professional, feel free to make use of technical language in your letter.
Sketch graph of the probabilities of te lot acceptance : Let p vary from 0.02 to 0.20 in increments of 0.02. b) Sketch the graph of the probabilities of the lot acceptance as the p value varies from 0.02 to 0.20.
Give a memo to susan apple a tax partner : An IRS agent thinks that Color, as an accrual basis taxpayer, should report $1,000 of income in 2011, when the work was done, and then deduct a $200 loss in 2012. Give a memo to Susan Apple, a tax partner for whom you are working, with the recomme..
What was the balance in the cash account : On October 31, a company's Cash account had a normal balance of $7,000. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What was the balance in the Cash account at the beginning of October?
Mean and standard deviation of simulated distribution : Run a Monte Carlo simulation 1000 trials for the following distribution. Determine the mean and standard deviation of the simulated distribution.
Demand and supply curve for clay fire : Redstone's manager is fired, and you are now the manager of Redstone Clayworks. How many fire pits would you choose to produce and why?
Real-life application of rational functions : Describe the cost C(x), in millions of dollars to inoculate x % of the Canadian population against a particularly virulent strain of flu
Check the normality assumption : After popping, the un-popped kernels were counted. There were 89. Construct a 90 percent confidence interval for the proportion of all kernels that would not pop.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the total amount of taxes withheld

Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate for social security is 6.2% and the FICA tax rate for Medicare is 1.45%.

  Income under absorption costing

During the year just ended, Kerry Company's income under absorption costing was $3,000 lower than its income under variable costing.

  How much will appling''s earnings be increased

By how much will Appling's earnings be increased or decreased by the bonds (ignoring taxes) in the December 31 annual financial statements?

  Weaknesses in internal controls

The following control procedures are used at Sandwich Company for over-the-counter cash receipts. For each procedure, explain the weakness in internal control, and identify the control principle that is violated.

  Traits refers to high levels of effort

Which one of the following traits refers to high levels of effort and is characterized by achievement, motivation, ambition, energy, tenacity, and initiative?

  Variable costing fell out of favor in management

Variable costing fell out of favor in management circles because:

  Calculating total inventory destroyed in fire

A fire completely destroyed the entire inventory of Printing Delight Company on April 10, 2014. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Company for January 1 to A..

  Accrual and cash basis accounting

What is the difference between accrual-basis accounting and cash-basis accounting? Why would politicians prefer the cash basis over the accrual basis?

  Job-order costing variables

On July 1, Job 46 had a beginning balance of $1,235. During July, prime costs added to the job totaled $560. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,921.

  Prepare a schedule fore each of three years

On December 31, 2013, the child crisis center establishes an endowment fund with a $5 million gift of securities. Income from the endowment is to be used exclsuively to support a nutrition program.

  Recommendation to use or sell facilities

ABC Corp. owns a piece of land and building a few miles from its headquarters. The land originally cost ABC $500,000 to purchase.

  Journal entries and computation of depreciation

On January 1, 2005, Solomon Company purchased the following two machines for use in its production process. Calculate the amount of depreciation expense that Solomon should record for machine B each year of its useful life under the following assum..

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