Business, 22.10.2019 22:00 rwallacejr803

Wright company deposits all cash receipts on the day when they are received and it makes all cash payments by check. at the close of business on may 31, 2017, its cash account shows a $27,500 debit balance. the company’s may 31 bank statement shows $25,800 on deposit in the bank. the may 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services. outstanding checks as of may 31 total $5,600. may 31 cash receipts of $6,200 were placed in the bank’s night depository after banking hours and were not recorded on the may 31 bank statement. in reviewing the bank statement, a $400 check written by smith company was mistakenly drawn against wright’s account. the bank statement shows a $600 nsf check from a customer; the company has not yet recorded this nsf check. prepare a bank reconciliation for the company using the above information.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 09:00

Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.

Answers: 1

Answer

Business, 22.06.2019 16:30

Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income

Answers: 1

Answer

Business, 22.06.2019 17:40

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Answers: 3

Answer

Business, 22.06.2019 20:30

Caleb construction (cc) incurs supervisor salaries expense in the construction of homes. if cc manufactures 100 homes in a year, fixed supervisor salaries will be $400,000. with the current construction supervisors, cc's productive capacity is 150 homes in a year. however, if cc is contracts to build more than 150 homes per year, it will need to hire additional supervisors, which are hired as full-time rather than temporary employees. cc's productive capacity would then become 200 homes per year, and salaries expense would increase to $470,000. how would cc’s salaries expense be properly classified? fixed variable mixed stepped curvilinear

Answers: 3

Answer

You know the right answer?

Wright company deposits all cash receipts on the day when they are received and it makes all cash pa...

Questions