The adjusted cash balance as at November 30, 2017 isa. P49,178.22b. P49,978.69c. P50,189.60d. P58,578.22 9-21.Bank Reconciliation and Adjusting EntriesPresented below is information related to Powder Inc.Balance per books at October 31ReceiptsDisbursementsBalanceP 41,847.85173,523.91166,193.5456,274.20perbank statement, November 30The following checks were outstanding at November 30.1224P1,635.292,468.303,625.15482.17123012321233 of Cash317Included with the November bank statement and not recorded by thecompany were a bank debit memo for P27.40 covering bank charges forthe month, a debit memo for P572.13 for a customer's check returned andmarked NSF, and a credit memo for P1,400 representing bond interestcollected by the bank in the name of Powder Inc. Cash on hand atNovember 30 recorded and awaiting deposit amounted to P1,915.40.The adjusted cash balance as at November 30, 2017 isa. P49,178.22.b. P50,189.60c. P49,978.69.d. P58,578.22.с.

Bank Reconciliation Statement is prepared in order to identify the reason for not matching the…

9-21. Bank Reconciliation and Adjusting Entries Presented below is information related to Powder Inc. Balance per books at October 31 Receipts Disbursements P 41,847.85 173,523.91 166,193.54 56,274.20 Balance per bank statement, November 30 The following checks were outstanding at November 30. 1224 P1,635.29 2,468.30 3,625.15 482.17 1230 1232 1233

9-21. Bank Reconciliation and Adjusting Entries Presented below is information related to Powder Inc. Balance per books at October 31 Receipts Disbursements P 41,847.85 173,523.91 166,193.54 56,274.20 Balance per bank statement, November 30 The following checks were outstanding at November 30. 1224 P1,635.29 2,468.30 3,625.15 482.17 1230 1232 1233

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

(A) Prepare a bank reconciliation at December 31, 2018. (B) Prepare the adjusting journal entries based on the reconciliation.
Interpreting the Accounts Receivable FootnoteHP Inc. reports the following in its 2018 10-K report. October 31(in millions) 2018 2017 Accounts receivable $5,113 $4,414 Footnotes to the company's 10-K provide the following additional information relating to its allowance for doubtful accounts. For the fiscal years ended October 31(in millions) 2018 2017 2016 Allowance for doubtful accounts-accounts receivable Balance, beginning of period $101 $107 $80 Provision for doubtful accounts 57 30 65 Deductions, net of recoveries (29) (36) (38) Balance, end of period $129 $101 $107 (a) What is the gross amount of accounts receivables for HP in fiscal 2018 and 2017? ($ millions) 2018 2017 Gross accounts receivable Answer Answer (b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2018 and 2017? (Round your answers to two decimal places.) ($ millions) 2018 2017 Percentage of uncollectible…
TO Culate net o check if Assets equal Liabilities I cdn.student.uae.examus.n ACCT101_FEX_2021_2_Male Purpose of the Statenment of Cash Flows: 9 క్క 18 a. To calculate net income 95abe18 e18c o check if Assets equal Liabilities b. 95abe18 С. To calculate Assets turnover 95abe18ce33 d. To know where a company spends its cash abe18ce33 95a18ce33 95abe18ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro 80 F3 000 95abe1 F4 FS 48 F6 E F7 6 & DII 7 V T F9 8A 99 Cor R. II
Need help with what I got wrong, please.
Information for questions 12 and 13 The following are extracts from the financial statements of a company for the two years ended 31 December 2016 and 2017. Statement of financial position as at 31 December Inventory Trade receivables Cash and bank balances Bank overdraft Trade payables 2016 £000 590 275 25 200 1,218 1,536 2017 £000 465 425 76 450 710 2,728 Non-Current assets Non-Current liabilities 0 300 Issued £1 Ordinary Shares 5,000 5,500 The income statement for the year ended 31 December 2017 shows an operating profit of c) £1,265,000 d) £1,815,000 £1,500,000 after charging depreciation of £600,000 and a profit on disposal of a non-current asset of £52,000. Q12. The change in the company's cash and cash equivalents for the year ended 31 December 2017 was: a) Outflow £199,000 b) Inflow £1 16,000 c) Outflow £89,000 d) Inflow £51,000 Q13. The cash flow from operations of the company for the year ended 31 December 2017 was: a) £1,515,000 b) £1,619,000
Given below are the balances taken from Amber’s ledger accounts on 31st December 2017. £ Fittings 10,950 Accumulated depreciation – fittings at 01/01/2017 3,750 Buildings 45,000 Accumulated depreciation – buildings at 01/01/2017 9,000 Inventory at 01/01/2017 22,500 Trade receivables 15,000 Allowance for doubtful debts 01/01/2017 1,200 Cash in hand 75 Cash at bank 1,875 Trade payables 27,000 Capital 28,575 Drawings 7,125 Purchases 120,000 Revenue 180,000 Wages 18,000 Advertising 300 Rates 6,000 Bank charges 2,700 The following information is also available: i. The value of inventory as at 31st December 2017 was £31,500 ii. Fittings are to be depreciated at 12% on reducing balance basis and buildings have a 40-year life and depreciated at cost. iii. Of the rates payments, £540 is for the next accounting period iv. Amber has just been notified that a debt of £850 is irrecoverable. As the economy is in recession it is expected that debtors may struggle to pay so an additional allowance of…
What is Target’s balance of cash equivalents for the fiscal year ended January 30,2016?
Assets ($) 2019 2018 2017 Cash on Hand & at Banks 1844388 2907252 3696201 Accounts Receivable Net 21373839 27958818 23638244 Notes Receivable 0 0 0 Post Dated Cheques 7430502 5910795 5481999 Short Term Investments 111502 111502 0 Inventory 14772540 15359933 16127022 Total Current Assets 50764763 59355234 56162203 Long Term Investments 2247122 2305477 2346362 Fixed Assets Net 36960544 32892460 23018610 Lands 3338194 3344028 3364400 Projects in Progress 5544 4350057 10455510 Total Fixed Assets 40304282 40586545 36838520 Other Assets 6417935 6157108 5067638 Total Assets 99734102 108404364 100414723 Liabilities ($) 2019 2018 2017 Accounts and Notes Payable 9488026 9042459 6830212 Credit Banks 21176536 19278649 13508941 Short Term Loans 15347569 14306482 12568640 Accrued Part of Long Term Loans 3816788 3818532 3663256 Total Current Liabilities 63973817 67090416 44303485 Long Term Loans & Notes Payable 9883426 8547662 10299548 Other…
How do I solve this?
Can you add the information to the table below. Accounts Receivable Beginning balance Ending Balance 0 What is the net increase or decrease in the Cash account for year 2021?
As of December 31, 2017 Cash $ 17,900 Accounts payable $ 29,500 Accounts receivable $ 39,600 Notes payable 15,400 Less: Allowance for doubtful accounts 3,200 36,400 Unearned revenue 3,800 Inventory 61,100 Total current liabilities $ 48,700 Prepaid expenses 7,400 Total current assets $ 122,800 The following errors in the corporation's accounting have been discovered: Keane collected $ 5,200 on December 20, 2017 as a down payment for services to be performed in January, 2018. The company's controller recorded the amount as revenue. 1. The inventory amount reported included $ 2,300 of merchandise that had been received on December 31, 2017 but for which no purchase invoices had been received or entered. Of this amount, $ 1,600 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. 2. Sales for the first day in January 2018 in the amount of $ 11,100 were entered in the sales journal as of December 31, 2017. Of these, $ 7,000 were sales on…
From the following particulars ascertain the balance that would appear in the Cash Book Alvi & Co., as on 30th June, 2015 before and after making the necessary adjustments: (1) Overdraft as per Pass Book as on 30th June, 2015 540 (2) Cheques drawn but not presented upto 30th June, 2015 (3) Cheques paid into bank but not cleared upto 30th June, 2015 (4) Interest on overdraft as per Pass Book, not entered in the Cash Book (5) Insurance premium paid by the bank not entered in the Cash Book (6) Interest on investments collected by the bank appeared in the Pass Book (7) In June Alvi and Co. Has discounted with the bank a bill for $ 500 and had entered this amount in 2,800 3,900 20 400 500 the Cash Book but the proceeds credited in the Pass Book amounted to 490.