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The information below relates to the Cash account in the ledger of Davidson Company ( 12 points). Balance September 1-$15,725; Cash deposited $106,000, Balance September
The information below relates to the Cash account in the ledger of Davidson Company ( 12 points). Balance September 1-\$15,725; Cash deposited $106,000, Balance September 30$12,225; Checks written $109,500. The September bank statement shows a balance of $12,815 on September 30 and the following memoranda: At September 30, deposits in transit were $3,695, and outstanding checks totaled $2,575. Instructions Prepare the bank reconciliation at September 30. A company just starting business made the following four inventory purchases in June (15 points): A physical count of merchandise inventory on June 30 reveals that there are 150 units on hand. Calculate ending inventory at June 30 (units and $ ) and the amount allocated to cost of goods sold for June under the following three inventory costing assumptions - show your calculations
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