Hosung Company's cash account adjusted ledger balance as of August 31 Accounting 100 chapter 6
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Hosung Company's cash account adjusted ledger balance as of August 31 Accounting 100 chapter 6
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- Using the following information: a. The bank statement balance is $4,881. b. The cash account balance is $5,400. c. Outstanding checks amounted to $645. d. Deposits in transit are $1,100. e. The bank service charge is $55. f. A check for $56 for supplies was recorded as $47 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31.Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00 6,768.00 Accruals 1,007.00 1,602.00 Cash ??? ??? Common Stock 10,168.00 12,293.00 COGS 12,621.00 18,231.00 Current portion long-term 4,953.00 5,046.00 debt Depreciation expense 2,500 2,756.00 Interest expense 733 417 Inventories 4,136.00 4,819.00 Long-term debt 14,434.00 13,704.00 Net fixed assets 50,920.00 54,636.00 Notes payable 4,385.00 9,940.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,358.00 30,071.00 Sales 35,119 47,773.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.
- 2 Cullumber Company's chart of accounts includes the following selected accounts. W S 101 Cash 112 Accounts Receivable Inventory Owner's Capital 120 301 Apr. 1 4 5 X On April 1, the accounts receivable ledger of Cullumber Company showed the following balances: Morrow $1,500, Rose $1,160, Jennings Co. $2,930, and Dent $2,050. The April transactions involving the receipt of cash were as follows. 8 10 11 23 29 # 3 E с D The owner, T. Cullumber, invested additional cash in the business $7,160. 54 401 Received check for payment of account from Dent less 2% cash discount. Received payment in full for $955 from Jennings Co for invoice no. 307. Made cash sales of merchandise totaling $7,200. The cost of the merchandise sold was $4,320. Received payment in full for $610 from Morrow for invoice no. 309. Received cash refund from a supplier for damaged merchandise $760. Received payment in full for $1,065 from Jennings Co. for invoice no. 310. Received check for payment of account from Rose (no…1 2 3 A co 4 567 8 9 10 11 DATE GENERAL JOURNAL DESCRIPTION 20-- May 16 Accounts Payable-Sunshine Suppliers Cash in Bank Check 111 20 Cash in Bank 23 Advertising Expense Cash in Bank Check 112 Accounts Rec.-Tim McGraw, Inc. Receipt 54 POST. REF. DEBIT 79500 52500 65.00 PAGE CREDIT 3 79500 52 500 6500 IN 2 3 4 5 6 7 co loo 9 10 11 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.answer all with complete work
- Venturi Office Supplies received a bank statement showing a balance of $73,047 as of March 31, 20X1. The firm's records showed a book balance of $72,987 on March 31. The difference between the two balances was caused by the following items. 1. A debit memorandum for $40, which covers the bank's collection fee for the note (item 6). 2. A deposit in transit of $3,700. 3. A check for $348 issued by another firm that was mistakenly charged to Venturi's account. 4. A debit memorandum for an NSF check of $4,643 issued by Wilson Construction Company, a credit customer. 5. Outstanding checks: Check 3782 for $1,250; Check 3840 for $141. 6. A credit memorandum for a $7,400 noninterest-bearing note receivable that the bank collected for the firm. Required: 1. Prepare a bank reconciliation statement for the firm as of March 31. 2. Prepare the necessary journal entries for March 31, 20X1 from the statement.SCHEDULE OF ACCOUNTS RECEIVABLE From the accounts receivable ledger shown, prepare a schedule of accounts receivable for Gelph Co. as of November 30, 20--.vi.3
