Clarification - Flash Enterprises Continuing Fisci Pattern. You have mucrous Flash Enterprises problems that will show up in a random order throughout the excammi. Eachi Flash question is a small selection from a large comprehensive problem. Treat each Flash Enterprise question as stand alone, meaning you should ignore the scenarios that are not mentioned and include in your answer only requested. Facte Flash Enterprises provides you with the below unadjusted account balances as of 12/31/2019, all of which are normal: Ref. No 1 2 Ref. No 17 18 19 20 3 4 5 21 6 7 8 Account Description Cash $26,045 Accounts Receivable 16,000 Employee Note Receivable 7,000 Supplies 2,400 Prepaid Advertising Expense 17,800 Prepaid Insurance Expense 9,745 Vehicle 55,000 Equipment 125,000 Accumulated Depreciation 82.995 Accounts Payable-Gordon Industries 4,400 Dividend Payable 9,000 Interest Payable 0 New Customer Advance 9,000 Rent Payable 0 Salaries Payable 0 Utilities Payable 0 Account Description Note Payable Contributed Capital Retained Earnings Dividends Service Fee Revenue Gain on asset disposal Advertising Expense Depreciation Expense Insurance Expense Interest Income Interest Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense $65.000 50,000 12,000 32,000 240,000 5,115 34,000 0 2.240 135 0 965 28,500 92,000 24,000 4,950 9 22 23 24 25 26 27 28 29 30 31 32 10 11 12 13 14 15 16 Short Cut using the above unadjusted account balances, Flash nas ner Income for the twelve months ended ar 12/31/2019 of $58,595. On January 8, 2020 Flash received the December 2019 bank statement in the mail, reviewed the activity and reconciled the account. During the reconciliation process Flash discovered the following items. Earlier in 2019, Flash loaned 57,000 to a company employee experiencing hard times and arranged for the employee to drop off their re-payment at the bark on the band's due date. In anticipation of this happening, Flash instructed the bark to depasit the mories into the company's bank account upon receipt. The tank agreed but stated that Flash would be charged a S25 service fee. On December 151h the employee repaid the full loan plus 5210 af interest from which the bank subtracted the S25 service fee prior to deposit. @ Flash noted $1.800 of checks written by the company in December which had not yet cleared the bank. Additionally, a $2,300 depasit made at the bank on Tuesday, December 31st after 4 pm) was not included on the December bank statement (m) In December, the bank subtracted a 530 monthly service fee and credited the company's account for $10 of interest income earned in December on the account balance. (the service fee and interest earned are separate from iter (0 () in early December Flash deposited an $550 payment collected from customer, Audeo Company as payment toward Audeo's Accounts Receivable balance. Unfortunately, Audeo lacked the funds in their own bank account to support this payment, the check bounced and was treated as NSF on the December bank statement (v) In early December Flash paid vendor Gordon Industries with a check drawn for S1,259 which was the amount owed to Gordan for an earlier purchase of supplies. The bookkeeper was not paying attention and recorded the payment as S1.295. Required Consider the company's December bank reconciliation. What is the cash value reported on the December bank statement? 532.196 OA O B. None of the answer choices are correct OC. $32.698 OD. 533,796 O E. $33.724 O $2.824 Clarification - Flash Enterprises Continuing Fisci Pattern. You have mucrous Flash Enterprises problems that will show up in a random order throughout the excammi. Eachi Flash question is a small selection from a large comprehensive problem. Treat each Flash Enterprise question as stand alone, meaning you should ignore the scenarios that are not mentioned and include in your answer only requested. Facte Flash Enterprises provides you with the below unadjusted account balances as of 12/31/2019, all of which are normal: Ref. No 1 2 Ref. No 17 18 19 20 3 4 5 21 6 7 8 Account Description Cash $26,045 Accounts Receivable 16,000 Employee Note Receivable 7,000 Supplies 2,400 Prepaid Advertising Expense 17,800 Prepaid Insurance Expense 9,745 Vehicle 55,000 Equipment 125,000 Accumulated Depreciation 82.995 Accounts Payable-Gordon Industries 4,400 Dividend Payable 9,000 Interest Payable 0 New Customer Advance 9,000 Rent Payable 0 Salaries Payable 0 Utilities Payable 0 Account Description Note Payable Contributed Capital Retained Earnings Dividends Service Fee Revenue Gain on asset disposal Advertising Expense Depreciation Expense Insurance Expense Interest Income Interest Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense $65.000 50,000 12,000 32,000 240,000 5,115 34,000 0 2.240 135 0 965 28,500 92,000 24,000 4,950 9 22 23 24 25 26 27 28 29 30 31 32 10 11 12 13 14 15 16 Short Cut using the above unadjusted account balances, Flash nas ner Income for the twelve months ended ar 12/31/2019 of $58,595. On January 8, 2020 Flash received the December 2019 bank statement in the mail, reviewed the activity and reconciled the account. During the reconciliation process Flash discovered the following items. Earlier in 2019, Flash loaned 57,000 to a company employee experiencing hard times and arranged for the employee to drop off their re-payment at the bark on the band's due date. In anticipation of this happening, Flash instructed the bark to depasit the mories into the company's bank account upon receipt. The tank agreed but stated that Flash would be charged a S25 service fee. On December 151h the employee repaid the full loan plus 5210 af interest from which the bank subtracted the S25 service fee prior to deposit. @ Flash noted $1.800 of checks written by the company in December which had not yet cleared the bank. Additionally, a $2,300 depasit made at the bank on Tuesday, December 31st after 4 pm) was not included on the December bank statement (m) In December, the bank subtracted a 530 monthly service fee and credited the company's account for $10 of interest income earned in December on the account balance. (the service fee and interest earned are separate from iter (0 () in early December Flash deposited an $550 payment collected from customer, Audeo Company as payment toward Audeo's Accounts Receivable balance. Unfortunately, Audeo lacked the funds in their own bank account to support this payment, the check bounced and was treated as NSF on the December bank statement (v) In early December Flash paid vendor Gordon Industries with a check drawn for S1,259 which was the amount owed to Gordan for an earlier purchase of supplies. The bookkeeper was not paying attention and recorded the payment as S1.295. Required Consider the company's December bank reconciliation. What is the cash value reported on the December bank statement? 532.196 OA O B. None of the answer choices are correct OC. $32.698 OD. 533,796 O E. $33.724 O $2.824