The following information pertains to Tim's DVD Company. 1. Cash balance per bank, July 31, $2,542....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information pertains to Tim's DVD Company. 1. Cash balance per bank, July 31, $2,542. 2. July bank service charge not recorded by the depositor $10. 3. Cash balance per books, July 31, $2,549. 4. Deposits in transit, July 31, $825. 5. Bank collected $600 note for Tim's in July, plus interest $36, less fee $15. The collection has not been recorded by Tim's, and no interest has been accrued. 6. Outstanding checks, July 31, $207. Instructions (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Tim's DVD Company. The following information pertains to Tim's DVD Company. 1. Cash balance per bank, July 31, $2,542. 2. July bank service charge not recorded by the depositor $10. 3. Cash balance per books, July 31, $2,549. 4. Deposits in transit, July 31, $825. 5. Bank collected $600 note for Tim's in July, plus interest $36, less fee $15. The collection has not been recorded by Tim's, and no interest has been accrued. 6. Outstanding checks, July 31, $207. Instructions (a) Prepare a bank reconciliation at July 31. (b) Journalize the adjusting entries at July 31 on the books of Tim's DVD Company.
Expert Answer:
Answer rating: 100% (QA)
Answer a Bank Reconciliation Cash balance per bank Add Deposit in tran... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
The following information pertains to Teresina Video Company. 1. Cash balance per bank, July 31, R$7,263. 2. July bank service charge not recorded by the depositor R$28. 3. Cash balance per books,...
-
The following information pertains to the life cycle selling price and demand for a recent Bluetooth cordless headset produced by Optronix. Like most electronic products, the product has a very short...
-
The following information pertains to Satellite Company: Required: Present the operating activities section of the statement of cash flows for Satellite Company using the indirectmethod. Income...
-
On July 31, 2019, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture wholesaler, are as follows: Prepare the July 31, 2019, closing entries for Serbian...
-
If pragmatism argues that the research questions should drive the choice of research methods, how can Thomas be sure of the quality of the research? Thomass work placement is at a management...
-
Why is it important to plan for the amounts and timing of cash inflows and outflows?
-
Continuation of P6-38B: regression analysis (Learning Objective 5)} Refer to Braunhaus Microbrewery in P6-38B. 1. Use Excel regression analysis to determine Braunhaus Microbrewery's manufacturing...
-
Inventory data for Kaleta Company are presented in E6-6. In E6-6, Kaleta Company reports the following for the month of June. Instructions (a) Compute the cost of the ending inventory and the cost of...
-
ABC Corporation is condsidering an IPO. ABC has 12 million shares of common stock owned by its founder and early investors. ABC has no preferred stock, debt, or short-term investments. Based on its...
-
Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (150,000 units) during the first month, creating...
-
Jose Perez owns 100% of Tonix Inc., a Canadian Controlled Private Corporation (CCPC). As Jose owns 100% of the voting shares of Tonix Inc., he and the corporation are related in accordance with ITA...
-
Discuss the advantages and disadvantages of: (a) qualitative methods of salesperson appraisal; (b) quantitative methods of salesperson appraisal.
-
Interpret the simple effect of effect of alcohol at different levels of lighting.
-
Vial-tek has an existing loan in the amount of \(\$ 3.5\) million with an annual interest rate of \(9.5 \%\). The company provides an internal company-prepared financial statement to the bank under...
-
Discuss the implications of the move towards relationship marketing in organisational buying/selling situations in the context of how this might change the role of selling.
-
Describe the key elements of a customer care programme that would be appropriate in a manufacturing or service environment with which you are familiar.
-
Which of the following programs deals with the clean-up of hazardous waste sites
-
In Exercises 15 through 30, find the derivative dy/dx. In some of these problems, you may need to use implicit differentiation or logarithmic differentiation. y ex + et -2x 1 + e
-
Ashkar Company ordered a machine on January 1, 2012, at an invoice price of $21,000. On the date of delivery, January 2, 2012, the company paid $6,000 on the machine, with the balance on credit at 10...
-
Differentiate accounts receivable from notes receivable.
-
Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Compute the following ratios for the most recent reporting year for which you have available...
-
What is an impairment of a tangible capital asset? How is a depreciable capital asset impairment recorded in the financial statements?(Appendix)
-
Refer to Exhibit 1, which shows the segment information of Goodyear Tire & Rubber Company. In what business segments does Goodyear operate? What is the relative size of its business segments in terms...
-
In a dramatic move, Standard & Poors Ratings Group, the large financial company that evaluates the riskiness of companies debt, downgraded its rating of General Motors and Ford Motor Co. debt to junk...
Study smarter with the SolutionInn App