What will the adjusting journal entries be

Assignment Help Accounting Basics
Reference no: EM132979474

Problem - A debtor, who owed a company $565, deposited a check in the bank. The bank credited the company's account by the same account. However, in the company's checkbook balance, it was credited as $556. What will the adjusting journal entries be?

Reference no: EM132979474

Questions Cloud

Calculate cost of goods sold and ending inventory for march : During March Pink company sold 180 units. Calculate cost of goods sold and ending inventory for March 2020 using the Weighted Average cost method only
Evolutionary and revolutionary changes : 1. Which of the evolutionary and revolutionary changes are of a discontinuous and continuous nature?
Determine what is the present value of the investment : You are able to reinvest these cash flows at 9.0 percent,What is the present value of this investment if 9.0 percent per year is the appropriate discount rate?
How organizations can reconcile the need : How organizations can reconcile the need/requirement/law for governance and the need for Corporate Social Responsibility as well as generating profits.
What will the adjusting journal entries be : However, in the company's checkbook balance, it was credited as $556. What will the adjusting journal entries be
Prepare journal entry to account for ella ltd provision : Ella Ltd provides its employees with long service leave. Prepare journal entry to account for Ella Ltd's provision for long service leave at 30 June 2021.
Why is manufacturing overhead considered : Why is manufacturing overhead considered an indirect cost of a unit of product? Explain with help of appropriate example
Provide necessary journal entries for plant x on december : Patric Ltd used the cost model to measure its Plant X. Provide the necessary journal entries for Plant X on 31 December 2021 and on 30 June 2022.
Provide the statement of financial position for dandino ltd : Provide the statement of financial position for Dandino Ltd as at 30 June 2020 in accordance with the requirements of IAS 1/AASB 101.

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