Clara North is really confused. "I've got three different numbers here and I don't know whatis right. My records show that I have $35,463 in the bank, but the bank statement says$37,428. When I called the bank to see about making a transfer payment, they said I hadonly $34,299 to spend. What the heck is going on?"Can you explain what there three balances are likely to be and why they are different?

Clara North has an account with a bank. She has got three different balances. As per her record she…

Answered: Clara North is really confused. "I've…

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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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Banks are finding more ways to charge fees, such as a $33.00 overdraft fee. Sue McVickers has an account in Fayetteville, she has received her bank statement with this $33.00 charge. Also, she was charged a $10.80 service fee, however, the good news is she earned $13.35 interest. Her bank statement's balance was $459.45, but it did not show the $1,295.65 deposit she had made. Sue's checkbook balance shows $695.60. The following checks have not cleared: Number 250, $671.45; Number 253, $249.50; and Number 254, $169.00. Prepare Sue's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Sue's checkbook balance Add: Subtotal Deduct Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Subtotal Deduct Reconciled balance
7. Your checkbook shows you have a $10,000 balance in your account. You write checks totaling $4,000 and make a deposit of $6,000. What is your disbursement float? 8. Your checkbook shows you have $10,000 balance in your account. You write checks totaling $4,000 and make a deposit of $6000 What is your collection float?
I have majority of the information I am missing something I believe. I can't upload more than two pictures to show the other ones that I have done. I know it's correct cause I can check as I go I am just confused now. T Accounts for the following cash: accounts receivable: equipment accumulated depreciation deferred revenue salaries and wages payable intereat Payable income tax payable notes payable common stock retained earnings service revenue travel expense salaries and wages expense interest expense depreciation expense income tax expense.
My bank requires me to establish a four digit pin My bank requires me to establish a four digit pin number for my debit card. a. How many possible pin numbers can I choose from? b. What is the probability that someone can correctly guess my pin number? My bank requires me to establish a four digit pin
One of your best friends has just started an accounting course at university. After his first lesson on ‘double-entry accounting’, your friend approaches you and says: “I don’t understand why the banks use the term ‘credit’ when you deposit cash in your bank account because cash is an asset, and increase in cash should be ‘debit’, not ‘credit’. I think the banks are misusing the word ‘credit’. It doesn’t comply with double-entry accounting.” Do you agree with your friend? Explain. in 50 words of fewer if possible please, thanl youuu :)
Your cousin works in the accounting department of his Company. You are at a family get together and he says he hates this part of his job where he has to reconcile the bank statements every month. He says "I don't understand why this is necessary. Almost all our customers pay online and the bank tracks all the ins and outs of the cash in the account. I think these bank reconciliations are a waste of time!" You think that you don't really reconcile your checking account every 1. Name at least three benefits achieved by performing a bank reconciliation that you could share with your cousin.
Carmen is making an interbank transfer of $1,500 from Bank A to Bank B to cover an overdraft. What is the effect of entering this transaction in Transfer within QuickBooks? Select an answer: It records the transfer she made. It instructs Bank A to transfer the funds. It informs Bank B that the funds are on the way.
I am trying to figure out what I am doing wrong. for some reason my balance and my bank balance are not equalling each other. What have I done wrong?
Very confused with this chart. So lost. Please help me fill it out.
Banks are finding more ways to charge fees, such as a $25.40 overdraft fee. Sue McVickers has an account in Fayetteville; she has received her bank statement with this $25.40 charge. Also, she was charged a $9.90 service fee; however, the good news is she earned $14.95 interest. Her bank statement's balance was $647.45, but it did not show the $1,234.25 deposit she had made. Sue's checkbook balance shows $722.60. The following checks have not cleared: Number 250, $664.35; Number 253, $370.40; and Number 254, $144.70. Prepare Sue's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Sue's checkbook balance Add: Deposit in transit Deposit in transit Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Deposit in transit Interest Subtotal Deduct: Maintenance fee Reconciled balance
I am not exactly sure what this question is asking me to do. The attached image is the information that is given to me. Below are the questions that I need to solve. The answer to question A is 3,650. That was given to me in the problem.Unknown Amounts Requireda. Total cash received $3,650b. Total cash collected from credit customersc. Notes payable repaid during the periodd. Good and services received from suppliers on accounte. Net income, assuming that no dividends were paid

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