5. Avery has a chequing and savings account. The table below shows his transactions for the month of August. Check Register Check Type of Transaction Amount of Checking Balance Date Amount of Withdrawal Deposit Aug. 1" Paycheck $1,389.00 $3,055.43 3035 Aug. 4 Rent Payment $855.00 3036 Aug. 10 Utilities $65.62 3037 Aug. 12 Car Payment $225.80 Aug. 14 Groceries $131.84 Aug. 15 Paycheck $1,389.00 Aug. 21 Transfer to Savings $300.00 Aug. 31 $44.45 Dinner Out a) What are Avery's fixed expenses? b) What are Avery's variable expenses? c) How much money does Avery have in his account at the end of the month. His balance at the beginning of the month is $ 3055.43. Show your calculations below or in the chart. 6. Which statement about

5. Avery has a chequing and savings account. The table below shows his transactions for the month of August. Check Register Check Type of Transaction Amount of Checking Balance Date Amount of Withdrawal Deposit Aug. 1" Paycheck $1,389.00 $3,055.43 3035 Aug. 4 Rent Payment $855.00 3036 Aug. 10 Utilities $65.62 3037 Aug. 12 Car Payment $225.80 Aug. 14 Groceries $131.84 Aug. 15 Paycheck $1,389.00 Aug. 21 Transfer to Savings $300.00 Aug. 31 $44.45 Dinner Out a) What are Avery's fixed expenses? b) What are Avery's variable expenses? c) How much money does Avery have in his account at the end of the month. His balance at the beginning of the month is $ 3055.43. Show your calculations below or in the chart. 6. Which statement about

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On June 30, 2019, Wally Company's bank statement showed a $7,500.10 bank balance. Wally has a beginning checkbook balance of $9,800.00. The bank statement also showed that it collected a $1,200.50 note for the company. A $4,500.10 June 30 deposit was in transit. Check No. 119 for $650.20 and check No. 130 for $381.50 are outstanding. Wally's bank charges $.40 cents per check. This month, 80 checks were processed. Prepare a reconciled statement. (Round your answers to the nearest cent.) Checkbook balance Wally's checkbook balance Add: Deduct: Reconciled balance WALLY COMPANY Bank Reconciliation as of June 30, 2019 Bank balance Add: Deduct: Reconciled balance Bank balance
Based on the information in the worksheet, Calculate: February Deposits in Transit: Date Amount February Outstanding Checks: Check # Amount
Adjusted cash balance?
Record the transactions. (Journal Entries) December 1 Issued check for $200 for December rent Took out a short term loan from the bank in the amount of $1,600. Note is due in 60 days at 6% interest. 3 Issue credit memo for $20 to Ritter for merchandise returned 4 Received check for $392 (after discount) from Dunn in payment on account Issued check for $891 (net of discount) to Service Toy 7 Received check for $343 (after discount) from Ritter in payment on account 8 Harris issues credit memo to us for $18 (inventory) Sold equipment for $60. Orginal cost was $500. Accumulated depreciation at the time of sale was $450 9 Purchase merchandise on account from Larkin $1,000 11 Sold merchandise on account to Thayer $200 Issue check to purchase new equipment for $400 12 Purchase merchandise on account from Clark $ 1,300 14 Issue check for $24 for phone bill Sold merchandise on account to Gage $350 15 Cash sales from December 1 to 15 were $ 2,030…
Vinubhai
Dinesh bhai
2. Your checkbook balance was $206.42 on March 3. The check register shows your transactions since then. What should your new balance be? Trans Type Date Description of Transaction or Check # 284 DEP AT Payment / Debit ✓ Deposit / Credit (+) (-) Balance Brought Forward 3/9 Osbourne Pharmacy 3/15 ATM Deposit 3/20 Auto trans: Gen Phone 19 32 50 80 120 49 Balance
prepare a bank reconciliation report.
This information relates to the Cash account for Cullumber Company. Balance September 1-$17,090; Cash deposited-$64,000 Balance September 30-$18,290; Checks written-$62,800 The September bank statement shows a balance of $17,190 at September 30 and the following memoranda. Credits Collection of electronic funds transfer Interest earned on checking account $1,990 50 Debits NSF check: H. Kane Safety deposit box rent $720 65 At September 30, deposits in transit were $4,903 and outstanding checks totaled $2,548.
Respond to the corresponding focus questions when you finish balancing the checkbook.
BANK RECONCILIATION AND RELATED JOURNAL ENTRIES The book balance in the checking account of Lyle's Salon as of Novemeber 30 is $3,282.95. The bank statement shows an ending balance of $2,127. By examining last month's bank in novemeber and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: a) An ATM withdrawl of $150 on November 18 by Lyle for personal use was not recorded in the books b) A bank debit memo issued for an NSF check from a customer of $19.50 c) A bank credit memo issued for interest of $19 earned during the month d) on November 30, A deposit of 1,177 was made which is not shown on the bank statement. e) A bank debit memo issued for $17.50 for bank service charges. f) checks No. 549,561 and 562 for the amounts of $185, $21 and $9.40, respectively, were written during november but have not yet been received by the bank. g) The reconciliation from the previous month showed outstanding checks totaling $271.95…
The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089