Calculate the monthly service charge to a business that had an average balance of $729 and wrote 40 checks.EITAverage BalanceMaintenance ChargePer Check Charge<$500$12.00$0.20$500-$1999$7.00$0.18$2000-$4999$5.00$0.10>$5000$0.00$0.00.....The monthly service charge is $ Find the total amount of the credit-card refunds on the record for the date 09/24/10.09/24/10SalesRefunds$56.83$99.37$72.01$67.58$722.15$226.45$286.15The total amount of the credit-card refunds for 09/24/10 is $$845.73$186.69$375.48$95.41$52.56$69.79

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1 Find the new balance, assuming that the bank charges 2-% per month on the unpaid balance. 2 Previous New Balance Payment Purchases $592.88 $81.26 A. $575.61 B. $572.61 C. $576.51 O D. $574.41 $50.00
c. Accounts receivable at the beginning of the year are $335. The company has a 30-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables $ Q1 335 750 Q2 810 I Q3 890 Q4 980
Lowell Bank reported the following checking account fees: $2 to see a real-live teller, $20 to process a bounced check, and $1 to $3 if you need an original check to prove you paid a bill or made a charitable contribution. This past month you had to transact business through a tellet six times-a total $12 cost to you. Your bank statement shows a $305,33 balance your checkbook shows a $1,009.76 balance. You received $1.10 in interest. An $80115 deposit was not recorded on your statement. The following checks were outstanding: No. 413. $28.30, No. 414, $18.60, and No. 418, $60.72. Prepare your bank reconciliation (Input all amounts as positive values. Round your answers to 2 decimal places) Checkbook balance Add: Interest Subtotal Deduct Teller fee Reconciled balance Y BANK RECONCILIATION $ 1,009 76 Bank balance Add: 1.10 $1,010.86 12.00 $ 998 58 Deposit in transit Subtotal Deduct Outstanding checks (total) Reconciled balance - ** $ 74 $ 305.33 801.15 1,106.48 107,62 998.86
how do you do the IF formula?
Calculating the net costs of checking accounts. Determine the annual net cost of these checking accounts: a. Monthly fee $4, check-processing fee of 20 cents, average of 23 checks written per month. b. Annual interest of 1.5% paid if balance exceeds $750, $8 monthly fee if account falls between minimum balance, average monthly balance $815, account falls below $750 durng 4 months.
2. DETAILS rise BRECMBC9 4.11.TB.011. On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. O $29.95 O $943.80 O $1,003.70 $1,108.88
Need help on figuring out what to put for account/explanation for the journal entry
3. The April 30 bank statement of 10A Company showed a balance of $$24,635 and the following memoranda: Credits Collection of $1,250 note plus interest $50 Interest earned on checking account $65 Debits $75 NSF check: Banana Wang $635 Safety deposit box rent: 10A Company's cash account in the general ledger had a balance of $26,100 on April 30 and other information is as follows: (1) Cash receipts for April 30 recorded on the company's books were $6,695 but this amount does not appear on the bank statement. (2) The total amount of checks still outstanding at April 30 amounted to $6,575, including $2,000 certified checks. (3) Check No. 119 payable to 10B Company was recorded in the cash payments journal and cleared the bank for $248 but the payment should be $284. Instructions (a) (b) Prepare the bank reconciliation at April 30. Prepare any adjusting entries necessary as a result of the bank reconciliation. (Hint: Record Safety deposit box rent as Miscellaneous (Misc.) Expense)

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Calculate the monthly service charge to a business that had an average balance of $729 and wrote 40 checks. ETT Average Balance Maintenance Charge Per Check Charge <$500 $12.00 $0.20 $500-$1999 $7.00 $0.18 $2000-$4999 $5.00 $0.10 >$5000 $0.00 $0.00 .....