Acollection of home account receivables 15,000 from branch,the branch recorded O A. credit account receivables 15000 OB. credit home office account 15,000 O c. debit home office 15000 OD. credit cash 15,000

Acollection of home account receivables 15,000 from branch,the branch recorded O A. credit account receivables 15000 OB. credit home office account 15,000 O c. debit home office 15000 OD. credit cash 15,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Alpha, Inc., made errors and/or omissions during the current year as described below. Indicate the…

A: Solution Notation to be used 0 =overstated U = understated N =no effect…

Q: Sales Transactions J. K. Bijan owns a retail business and made the following sales on account during…

A: There has been a sales tax of 6% on the sale which has been made by the company and it has been…

Q: PA4. 7.4 Use the journals and ledgers that follow. Total the journals. Post the transactions to the…

A: Posting - It is the process when the balance of sub ledgers and journal ledger are shifted to…

Q: Required information Exercise 6-10A (Algo) Adjusting the cash account LO 6-3 [The following…

A: A bank reconciliation statement is a financial document that reconciles the bank statement balance…

Q: rag the boxes to match the answers special bank account that earns interest %! money subtracted from…

A: Compounding is the amount of money earned in the form of interest on Principal + Interest. It can be…

Q: n sage 50 how to make general entry for Memo#6 Transfer $4000 from Bank: Credit Card to Bank to CAD…

A: Here to do the assignment of enter the whole transaction into the Sage 50 Accounting software which…

Q: Cash Receipt #95 Dated April 12, 2022 From WiseGuys, cheque # 189 for $1 800 in payment of invoice…

A: Journal entry refers to the initial recording of the transactions in the books. These entries are…

Q: The estimated bad debts rates below are based on ABC's collection experience: Rate (%) Age of…

A: In the given problem, the uncollectible account has a debit balance of P5,500. The uncollectible…

Q: 4. Find the balance after each check/deposit Trans Type Date Description of Transaction Payment/…

A: Bank Pass Book is the ledger account of the account holder in the books of bank. In pass book every…

Q: [ine ToIioWing inrormation appiies to the questions dispiayea below.j Del Gato Clinic's cash account…

A: It's the summary of banking and business activity which is used to reconcile bank statement with…

Q: Please help me with this question

A: Task 3: Posting from the General JournalLet's assume we have the following general journal entries…

Q: The revenue journal and cash receipts journal for Birmingham Productions Inc. follow. The accounts…

A: Accounts receivables are those receivables from the customers on which sales are made on credit…

Q: Hunter Photography's checkbook lists the following: Checkbook Date Check No. Item…

A: The bank reconciliation statement is prepared to adjust the cash book and pass book balances. Both…

Q: From the data below for Wong Company, prepare the closing entries for the year ended December 31.…

A: Date Account title and explanation Debit $ credit $ Dec-31 Sales $ 982,600 Interest revenue…

Q: Using the information below, prepare the Bank Reconciliation for the month of August. Be sure to…

A: A)

Q: E 7-7A (LO4) /Apr. 16: Cr. Cash Short and Over, CASH SHORT AND OVER ENTRIES Based on the following…

A: Journal Entries for Cash Receipt from Service Fee and Cash Short/ Excess

Q: E 7-7A (LO4) / Apr. 16: Cr. Cash Short and Over. CASH SHORT AND OVER ENTRIES Based on the following…

A: Cash is a form of current asset and is reported on the balance sheet under the asset column. As per…

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal entries are used to record transaction in chronological order under double entry accounting…

Q: The actual cash received from cash sales was $34,936, and th amount indicated by the cash register…

A: Solution: Entry to record cash sales is as under:

Q: Compute the reconciled balance: Note: Round your answer to 2 decimal places. Checkbook Balance $…

A: Bank reconciliation statement :— It is the statement that shows the reconciliation of balance as per…

Q: ournalizing Cash Payments Transactions Enter the following cash payments transactions in a general…

A: Before we start journalizing, it's important to understand the terms used in the transactions.…

Q: ales for Thursday total $2,205.50. The cash drawer contains $1,255.25, credit card transactions…

A: When a business is involved with over the-counter cash receipts, occasional errors may occur in…

Q: ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM…

Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Acollection of home account receivables 15,000 from branch,the branch recorded
O A. credit account receivables 15000
O B. credit home office account 15,000
O c. debit home office 15000
OD. credit cash 15,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Meaning

VIEW

Step 2: Explanation

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Balance, December 31, 2018 $3,340 ADD: Deposit in transit 100 3,440 LESS: Outstanding checks $400 400 Adjusted bank balance, December 31, 2018 $3,040 Book: Balance, December 31, 2018 $2,540 ADD: Bank collection $510 Interest revenue 20 530 3,070 LESS: Service charge $30 30 Adjusted book balance, December 31, 2018 $3,040
Cash Receipt #94 Dated April 4, 2022 From Jokers Et Al., cheque #2213 for $950 in full payment of invoice # 287, taking into account 2% sales discount of $50 for early payment. 04-15-2022 J2 1080 1200 94, Jokers Et Al. Bank: Chequing Accounts Receivable 1,000.00 1,000.00 Compare the transaction information and the transaction as captured in Sage and state, what was done wrong and how would you correct it?
Current Attempt in Progress What is the ending balance for the following check register? Check Register Check# 1230 1231 O $1938.25. O $2736.25. O $1124.25. O $2858.25. Date 9/2 9/5 Payee/Description Payment Deposit 9/4 Target 9/7 Utilities Paycheck Cash(ATM) $232.00 $144.00 $23.00 $407.00 Balance $1930.25 $ $
Instructions: Prepare a bank reconciliation for Kali Loli from the following checkbook records and bank statement CHECKBOOK Check number 801 802 803 804 805 Date Description fo transaction 44835 H&H Jewelers 44840 Deposit 44842 L.L. Bean 44844 Cashe 44847 Deposit 44847 Four Seasons Hotel 44849 American Express 44854 ATM Withdrawal 44858 Deposit 44861 Deposit 44862 Home-Depot - Debit Card BANK STATEMENT Statement Date: Checking Account Summary: Account Number: Checking Account Transactions Date Amount 44837 44840 44844 44847 44849 44851 44856 44858 44862 44864 BANK RECONCILIATION Check book balance. Amount of payment or withdrawal Amount of deposit or interest Balance Forward 879.36 November 3, 2021 October 1- 31, 2021 449-56-7792 Previous Balance Deposits Number Total Credits ✓ Check Number Total Debits Current Balance → 879.36 3 1954.59 7 1347.83 1486.12 Description 236.77 Check # 801 450.75 Deposit 324.7 Returned item 880.34 EFT payroll deposit 75.89 Check #803 507.82 Check #805…