Identify the errors in the following bank reconciliation: Alma Co. Mank Reconciliation For the Manth Ended November
Question:
Identify the errors in the following bank reconciliation:
Transcribed Image Text:
Alma Co. Mank Reconciliation For the Manth Ended November 30, 2012 Cash balance according to bank statement. Add outstanding checks No. 915.. $12.090 960. 615 964 850 775 965 3,020 $15,180 .. Dedut deposit of November 30, not recorded by bank 4,000 Adjusted balance $11,180 ..**....... Cash balance according to company's records. $ 4,430 Add Proceeds of note colected by bank: 55,000 Principat. 200 55.200 Interest.. Service charges 5,230 30 $ 9,660 Decuct: Check returned because of insulficient furds. $1,100 Error in recording tNovember 23 deposit of $6.100 a S1.000. 4,500 Adiunted halance 14.000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (16 reviews)
1 The heading should be November 30 2012 and not For the Month Ended November 30 2012 2 The outstand...View the full answer
Answered By
Deborah Joseph
My experience has a tutor has helped me with learning and relearning. You learn everyday actually and there are changes that are made to the curriculum every time so being a tutor has helped in keeping me updated about the present curriculum and all.
I have also been able to help over 100 students achieve better grades particularly in the categories of Math and Biology both in their internal examinations and external examinations.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Cost Accounting questions
-
Identify the errors in the following bank reconciliation: Poway Co. Bank Reconciliation For the Month Ended June 30, 2016 Cash balance according to bank statement Add outstanding checks: $16,185 No....
-
Identify the errors in the following bank reconciliation: Poway Co. Bank Reconciliation For the Month Ended June 30, 2014 Cash balance according to bank statement...... Add outstanding checks:...
-
Identify the errors in the following bankreconciliation: RAKESTRAW CO. Bank Reconciliation For the Month Ended April 30, 2010 Cash balance according to bank statement Add outstanding checks: $11,320...
-
Mr. Banks is a CEO of an airline parts company. In negotiating with a major customer, he asks many questions and carefully summarized the other parties' ideas. This is an example of which effective...
-
The following financial information (in US$ millions) is for two major corporations for the three years ended December 31: Instructions (a) Calculate the inventory turnover, days sales in inventory,...
-
Review the opening feature of this chapter that highlights Jean Liu and Review the opening feature of this chapter that highlights Jean Liu and Didi Chuxing (or DiDi). The company plans to open a...
-
recognise how and why sport bodies and businesses respond to government initiatives;
-
Selected account balances for Hulse Company at January 1, 2017, are presented below. Accounts Payable ........... $14,000 Accounts Receivable.......... 22,000 Cash .................. 17,000 Inventory...
-
The delta of a call option is 0.6. The current price of the call is $5 and the stock is at $100. What is the approximate price of the call if the stock price increases to $100.50? (a) $4.70 (b) $5.30...
-
Huegel Hollow Resort has ordered 20 rotomolded kayaks from Current Designs. Each kayak will be formed in the rotomolded oven, cooled, and then the excess plastic trimmed away. Then, the hatches,...
-
The procedures used for over-the-counter receipts are as follows. At the close of each days business, the sales clerks count the cash in their respective cash drawers, after which they determine the...
-
Lasting impressions Co. records all cash receipts on the basis of its cash register tapes. Lasting Impressions Co. discovered during April 2012 that one of its sales clerks had stolen an undetermined...
-
We are interested in predicting nutrition rating based on sodium content. Construct the appropriate scatter plot. Note that there is an outlier. Identify this outlier. Explain why this cereal is an...
-
Locate a scholarly article relevant to how to present your financial plan for opening a Roller Skating Rink (from your draft business plan) to a lending institution--and describe your strategy for...
-
How would you expect seasonal fluctuations in demand to affect a rental company's decisions about pricing rented products such as wedding dresses or convertible cars? In terms of pricing principles,...
-
Do we drive technology, or does technology drive us? If technology drives us, what are the risks? The other side of the coin would be that we are able to stay ahead of technological transformations....
-
How do you explain the differences between the two analyses and what are the implications of using the BCG matrix in practice?
-
How do leadership styles, such as transformational leadership, shared leadership, and servant leadership, impact team dynamics, member motivation, and overall team effectiveness ?
-
Assume that you invest 5 per cent of your salary and receive the full 5 per cent match from West Coast Yachts. What APR do you earn from the match? What conclusions do you draw about matching plans?
-
How do network effects help Facebook fend off smaller social-networking rivals? Could an online retailer doing half as much business compete on an equal footing with Amazon in terms of costs? Explain.
-
Which of the following is not a category used in the fraud triangle plus inquiry paradigm? a. Theft investigative techniques. b. Concealment investigative techniques. c. Action investigative...
-
Artic Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, 2010, purchases invoices during the year, and the inventory count at December 31,...
-
Data on the physical inventory of Winesap Co. as of December 31, 2010, are presented in the working papers. The quantity of each commodity on hand has been determined and recorded on the inventory...
-
Selected data on merchandise inventory, purchases, and sales for Clairemont Co. and Malibu Co. are as follows: Instructions 1. Determine the estimated cost of the merchandise inventory of Clairemont...
-
Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all - equity firm that specializes in this business. Suppose Harburtin ' s equity beta is 0 . 8 7 , the...
-
Ned Allen opened a medical practice in Los Angeles, California, and had the following transactions during the month of January. (Click the icon to view the January transactions.) Journalize the...
-
do you need more information or are you working on this? Irene Watts and John Lyon are forming a partnership to which Watts will devote one- half time and Lyon will devote full time. They have...
Study smarter with the SolutionInn App