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Highlight the account on your General Ledger report where you think the accountant found the missing cash last year. Last year, the bank told us
Highlight the account on your General Ledger report where you think the accountant found the missing cash last year.
"Last year, the bank told us we had money in the bank, but QuickBooks told us we were broke and had no money in our Checking account to pay bills." Mr. Castle casts you a look as he rushes past your cubicle-a look that warns you to be ready to answer a QuickBooks question. "We had to hire an accountant last year to find the missing cash in QuickBooks." Rock Castle now pauses as you anticipated the upcoming question. "Will we need to hire an accountant this year to find the missing cash or can you show me the money?" Rapidly, you reply, Mr. Castle, this year we know where all our cash is." When you look up to show him some QuickBooks reports, Mr. Castle is already back in his office on the phone. 12/15/2024 Accrual Basis Balance Type Date Num Adj Name Memo Split Debit Credit 2 General Ledger 3 As of December 31, 2024 4 5 10100 . Checking 6 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Bill Pmt-Check 12/15/2024 501 Transfer 12/15/2024 SEND Bill Pmt -Check 12/15/2024 502 Bill Pmt-Check 12/15/2024 503 Bill Pmt-Check 12/15/2024 504 Bill Pmt -Check 12/15/2024 505 Bill Pmt -Check 12/15/2024 506 Bill Pmt -Check 12/15/2024 507 Bill Pmt -Check 12/15/2024 508 Bill Pmt-Check 12/15/2024 509 Bill Pmt -Check 12/15/2024 510 Bill Pmt -Check 12/15/2024 511 Bill Pmt -Check 12/15/2024 512 Bill Pmt -Check 12/15/2024 513 Bill Pmt -Check 12/15/2024 514 Payment 12/15/2024 Payment 12/15/2024 42000 Paycheck 12/15/2024 10073 Paycheck 12/15/2024 10074 Paycheck 12/15/2024 10075 Paycheck 12/15/2024 10076 Paycheck 12/15/2024 10077 Paycheck 12/15/2024 10078 Paycheck 12/15/2024 10079 Check 12/15/2024 515 Sales Tax Payment 12/15/2024 516 Wheeler's Tile Etc. H-18756 20000 - Accounts Payable 625.00 Funds Transfer 10300 Savings 500.00 Daigle Lighting 20000 - Accounts Payable 640.92 Patton Hardware Supplies Bill #35698 20000 - Accounts Payable 754.50 Perry Windows & Doors 20000 - Accounts Payable 6,935.75 Lew Plumbing 5-487 20000 - Accounts Payable 45.00 East Bayshore Tool & Supply 20000 - Accounts Payable 1,631.52 Timberloft Lumber 1890-76 20000 - Accounts Payable 1,358.00 East Bayshore Tool & Supply 20000 - Accounts Payable 1,476.23 Hopkins Construction Rentals 20000 - Accounts Payable 450.00 Timberloft Lumber 1890-76 20000 - Accounts Payable 896.00 East Bayshore Tool & Supply 20000 - Accounts Payable 696.52 Patton Hardware Supplies RC 93 20000 - Accounts Payable 400.00 Timberloft Lumber 1890-76 20000 - Accounts Payable 1,610.00 Sloan Roofing 20000 - Accounts Payable 5,700.00 Abercrombie, Kristy:Remodel Bathroom 11000 - Accounts Receivable 7,633.28 Natiello, Ernesto:Kitchen 11000 - Accounts Receivable 13,560.39 Dan T. Miller I-SPLIT- 1,299.60 Elizabeth N. Mason -SPLIT- 907.92 Gregg O. Schneider I-SPLIT- 1.033.98 Dan T. Miller -SPLIT- 1,350.15 Elizabeth N. Mason -SPLIT- 932.92 Gregg O. Schneider I-SPLIT- 1,062.12 Gregg O. Schneider -SPLIT- 1,062.12 Vu Contracting 54500 - Subcontractors 1,000.00 State Board of Equalization ABCD 11-234567 -SPLIT- 1,629.27 21,693.67 33,497.52 58,772.95 58,147.95 58,647.95 58,007.03 57,252.53 50,316.78 50,271.78 48,640.26 47,282.26 45,806.03 45,356.03 44,460.03 43,763.51 43,363.51 41,753.51 36,053.51 43,686.79 57,247.18 55,947.58 55,039.66 54,005.68 52,655.53 51,722.611 50,660.49 49,598.37 48,598.37 46,969.10 46,969.10 18,410.19 17,910.19 17,910.19 3,500.00 3,500.00 100,583.93 Total 10100 . Checking 10300. Savings Transfer 12/15/2024 Funds Transfer 10100 Checking 500.00 0.00 500.00 Total 10300 - Savings 10400 Petty Cash Total 10400 - Petty Cash 11000 - Accounts Receivable Type Date Num Adj Name Memo Split Debit Credit Invoice Invoice Payment Payment Payment 12/15/2024 1097 12/15/2024 1098 12/15/2024 12/15/2024 12/15/2024 42000 Robson, Darci:Robson Clinic Cook, Brian:Kitchen Roche, Diarmuid:Garage repairs , Abercrombie, Kristy: Remodel Bathroom Natiello, Ernesto:Kitchen -SPLIT -SPLIT- 12000 . Undeposited Funds 10100 Checking 10100 - Checking 12,420.98 1,636.69 440.00 7,633.28 13,560.39 14,057.67 21,633.67 General Journal 12/31/2024 ADJ2024.5 V V! 70200 - Interest Income 400.00 400.00 0.00 Payment 12/15/2024 Roche, Diarmuid:Garage repairs 11000 - Accounts Receivable 440.00 440.00 0.00 ------ Invoice 12/15/2024 1097 Robson, Darci: Robson Clinic -MULTIPLE ------------ 11000 - Accounts Receivable 1,637.08 1,637.08 0.00 General Ledger 3 As of December 31, 2024 4 8 11000 - Accounts Receivable 9 -0 -1 -2 -3 4 Total 11000 - Accounts Receivable -5 11100 - Interest Receivable -6 -7 Total 11100 - Interest Receivable -8 12000 . Undeposited Funds -9 0 Total 12000 - Undeposited Funds 1 12100 - Inventory Asset 2 3 Total 12100 Inventory Asset 4 12800. Employee Advances 5 Total 12800. Employee Advances 6 13100. Pre-paid Insurance 7 8 9 Total 13100 Pre-paid Insurance 0 13400 - Retainage Receivable 1 Total 13400 - Retainage Receivable -2 15000 - Furniture and Equipment 3 Total 15000 - Furniture and Equipment 4 15100 - Vehicles 5 15200 - Buildings and Improvements 6 Total 15200 - Buildings and Improvements -7 15300 Construction Equipment 8 Total 15300 - Construction Equipment -9 16900 - Land o 0 Total 16900 - Land 1 17000. Accumulated Depreciation 2 3 4 Total 17000 - Accumulated Depreciation 5 18700 - Security Deposits "6 6 Total 18700 - Security Deposits 12/15/2024 Accrual Basis Balance 100,583.93 113,004.91 114,641.60 114,201.60 106,568.32 93,007.93 93,007.93 0.00 400.00 400.00 2,000.00 2,440.00 2,440.00 32,320.46 30,683.38 30,683.38 832.00 832.00 0.00 4,050.00 3,901.17 3,901.17 3,703.02 3,703.02 34,326.00 34,326.00 78,936.91 325,000.00 325,000.00 15,300.00 15,300.00 90,000.00 90,000.00 -110,344.60 -160,344.60 -170,344.60 -170,344.60 1,720.00 1.720.00 Bill Overhead 4,050.00 12/15/2024 12/31/2024 ADJ2024.2 20000 - Accounts Payable 62120 - Liability Insurance General Journal 148.83 148.83 4,050.00 . General Journal General Journal 12/31/2024 ADJ2024.1 12/31/2024 ADJ2024.6 V 60900 Depreciation Expense 60900 - Depreciation Expense 50,000.00 10,000.00 0.00 60,000.00Step by Step Solution
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