Jasper Company accepted a check from Harp Company as payment for services rendered. Jasper's bank statement revealed that t What effect will recording the NSF check have on the accounting equation of Jasper Company? A. B. C. D. Total Assets Decrease No effect Decrease No effect Multiple Choice Option R Total Equity Decrease Decrease No effect No effect

Jasper Company accepted a check from Harp Company as payment for services rendered. Jasper's bank statement revealed that t What effect will recording the NSF check have on the accounting equation of Jasper Company? A. B. C. D. Total Assets Decrease No effect Decrease No effect Multiple Choice Option R Total Equity Decrease Decrease No effect No effect

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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Question Completion Moving to another question will save this response. Question 6 AMA Company's bank statement for 31st December 2021 showed a cash balance of $2750. The company's Cash account in its general ledger showed a $2000 debit balance. The following information was also available as of December 31st a. A $900 NSF check from a customer, J. Steel is shown on the bank statement but not yet recorded by the company. b. The December 31st cash receipts, $3,250, were placed in the bank's night depository after banking hours and this amount did not appear on the December 31st bank statement. c. A $59 debit memorandum for checks Book deducted by the bank. d. Outstanding checks amounted to $2,339. e. A customer's note for $2,790 was collected by the bank. A collection fee of $20 was deducted by the bank and the difference was deposited in the account. f. The bank erroneously deducts a check for $150 by mistake. Required: Prepare a bank reconciliation as of December 31st format: W
Q3. The Cash Hook of Sigma Company showed a debit balance of Rs. 19,000 while the Rank Statement on Jan 31, 2021 showed the credit balance of 43,000. Following discrepancies were discovered: 1. Dividend collection by the bank on behalf of Sigma Company Rs. 30,000 2. Dishonored cheque of a customer Rs. 6,000 3. Notes paid by the bank on behalf of Sigma Company Rs. 10,000 4. Interest payment by bank Rs. 1200 5. A cheque of Rs. 13,400 of a customer was erroneously recorded in Cash book as Rs.15,200 6. A customer's cheque of Rs.14,000 deposited into bank, did not appear in Bank statement. 7. Cheque issued to supplier for Rs. 18,000 did not appear in Bank statement. 8. Cheque issued for Rent Rs. 14,400 appeared wrongly in Bank Statement as Rs. 5,400 Required: a) Prepare a Bank Statement Reconciliation Statement as on Jan 31, 2021 b) Give entries in General Journal for updating the Cash Records.
Explain why non-financial information, such as the type shown in appendix 2, is likelyto give a better indication of the likely future success of the business than the financialinformation given in appendix 1
Choose an answer by this following choices: A. Cash provided/used by operating activities. B. Cash provided/used by investing activities. C. Cash provided/used by financing activities. D. Not a cash flow. Given. Payment on long-term debt Issuing 3-year unsecured notes Collection of accounts receivable Issue of ordinary shares for purchase of land Writing-off obsolete inventory Depositing cash on hand with the bank Payment of employees' wages Issuing ordinary shares for cash Payment of income taxes payable Purchase of equipment for cash Paying dividends Sale of real estate held as a long-term investment
What is the amount of Cash received from customers? How much is the net income (loss) of the year 6? What is the amount of cash generated (used) by accounts receivables? What is amount of cash generated (used) by Operations in Year 6? What is ending balance of Cash at the end of Year 6? What is ending balance of Accounts Receivables at the end of Year 6? What is ending balance of Retained Earnings at the end of Year 6?
Can somone help me with trial balance and what caused change in retained earnings... I didn’t fill out the equipment section because there weren’t any equipment used from he journal entry
Nutrition Inc. reissued treasury stock. How would this be shown on a statement of cash flows? decrease in cash from an investing activity increase in cash from a financing activity decrease in cash from an operating activity decrease in cash from a financing activity increase in cash from an investing activity increase in cash from an operating activity Nutrition Inc. made a payment on a past due account payable. How would this be shown on a statement of cash flows? increase in cash from a financing activity decrease in cash from an operating activity increase in cash from an operating activity decrease in cash from a financing activity increase in cash from an investing activity decrease in cash from an investing activity
Instructions: Calculate the following Reconciliation for Hancock, Reid, & Carson for the period ending March 31, 2021. Prepare the March bank reconciliation statement on the blank statement provided for Hancock, Reid, & Carson Ltd. according to the following information: • Royal Bank of Canada statement says the current balance is $17,864.12. • There was an NSF cheque #1706 from Peter Bartrum in the amount of $1,870.54. There are bank service charges of $60.00; there are overdraft interest charges of $86.90; there is a preauthorized loan payment charge of $617.44; the bank paid Hancock, Reid & Carson Ltd. $204.12 interest on a revolving T-bill investment, and there is a charge of $54.00 for the annual rental of a safety deposit box. Upon comparing the bank statement to the company's cheque register, you noted that the final balance in the cheque register was $16,627.01 and that cheques #588 for $198.27, #592 for $i,846.40, #596 for $374.80 and #599 for $1,320.40 are outstanding. You…
As on 30th June the Cash Book reports a bank balance of RO21,800; while cheques yet to be presented amount to RO21,560 and deposits yet to be credited by the bank amount to RO36,240. There was dividend collected by the bank RO 2500. What would be the balance as per the Bank Statement? a. 5800 b. 9620 c. 4620 d. 7120 *fast i dont have time plese
Both are decreases explain it and give answer fast
C O O O Using a perpetual inventory system, how should a company record the sale of inventory costing $540 for $1,100 on account? Inventory Cost of Goods Sold Sales Revenue Accounts Receivable Accounts Receivable. Sales Revenue Accounts Payable Inventory Inventory Gain. Sales Revenue O Accounts Receivable. Sales Revenues. Gain O None of these answer choices are correct. ! 1 F1 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Q A 2 N I F2 W #3 3 80 F3 E X $ 4 S D a F4 R C 1,100 LL 1,100 сторо 540 5 J *540 1,100 F 540 560 F5 T V ^ 6 540 1,100 1,100 540 1,100 MacBook Air G 540 560 F6 Y & 7 B J F7 H * 00 U 8 DII FB J N ( 9 1 F9 K M ) Save All Answers O O F10 <