Question
1.Transatlantic corporations recorded its May 25th receipts on its book as $96.However, the receipts were actually $43. The deposit slip for the bank was prepared
1.Transatlantic corporations recorded its May 25th receipts on its book as $96.However, the receipts were actually $43. The deposit slip for the bank was prepared correctly as $43.what adjustment is needed to the cash balance book.
2.A company recorded its check no. 6148 in its accounting records as $105. But,check no. 6148 was actually written for $85. What adjustment is needed to the cash balance book.
3.Prepare journal entries
July 2-received a $10,000,6%,1-year note from Jesse ltd. As full payment on his account.
Augh 4- Sold merchandise on account to Samuel ltd. For $14,000,term 2/10,n/30.
Oct.8- Samuel,inc.,returned merchandise worth $1000
Dec.4- Received payment in full from Sameul inc.
Dec.30-Accrued interest on Jesse note.
Mat 2-Jesse ltd honored his promissory note by sending the face amount plus interest.
4.Transatlic corporations cash account has a balance of $851 as of may31.the bank statement for this account report a balance of $1430 as of may 31.The company bank statement shows interest earned of $19,service charges of $30,a customer's returned check of $100,and check printing cost of $90.the reconciled cash balance that should be reported on the transatlic balance sheet as of may31 is how much??
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