Hurry up and solve it because the timer is at 28 min [The following information applies to the questionsdisplayed below.]Organic Food Company's Cash account shows a $6,300debit balance and its bank statement shows $5,720 ondeposit at the close of business on August 31.a. August 31 cash receipts of $2,040 were placed in thebank's night depository after banking hours and were notrecorded on the August 31 bank statement.b. The bank statement shows a $200 NSF check from acustomer; the company has not yet recorded this NSFcheck.c. Outstanding checks as of August 31 total $1,920.d. In reviewing the bank statement, an $160 check writtenby Organic Fruits was mistakenly drawn against OrganicFood's account.e. The August 31 bank statement lists $100 in bank servicecharges; the company has not yet recorded the cost ofthese services.Prepare a bank reconciliation using the above information.ORGANIC FOOD COMPANYBank ReconciliationAugust 31Bank statement balanceAdd:Deduct:Adjusted bank balance$00Book balanceAdd:Deduct:00 Adjusted book balance g information applies to the questionslow.]1 Company's Cash account shows a $6,300e and its bank statement shows $5,720 one close of business on August 31.cash receipts of $2,040 were placed in theht depository after banking hours and were noton the August 31 bank statement.statement shows a $200 NSF check from athe company has not yet recorded this NSFng checks as of August 31 total $1,920.ig the bank statement, an $160 check written> Fruits was mistakenly drawn against Organiccount.it 31 bank statement lists $100 in bank servicehe company has not yet recorded the cost ofices.reconciliation using the above information.ORGANIC FOOD COMPANYBank ReconciliationAugust 31e$00Book balanceAdd:Deduct:00 Adjusted book balance$0000

The bank reconciliation statement is prepared by company to adjust the balance of cash book to match…

[The following information applies to the questions displayed below.] Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services.

[The following information applies to the questions displayed below.] Organic Food Company's Cash account shows a $6,300 debit balance and its bank statement shows $5,720 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,040 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $200 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,920. d. In reviewing the bank statement, an $160 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

You just paid $557 for a security that claims it will pay you $1,551 in 6 years. What is your annual rate of return? SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.7021%, FOR EXAMPLE, ENTER 7.70.
PV at 10% at the end of year 2. How do you get 0.82645? Do you use a calculator, if so, how do you work it out or written?
A guy is wondering which account he should invest in Account A- earns an APR of 4% of compunded monthly Account B- intrest is compunded daily, and the effective annual rate is 4%(APR is unknown) In Account B the 4% is an effective annual rate does this mean Account B is better if money is left in there for one year? If the money is left in there for 1 or more year does it make a diffrence?
ing annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. Do not round intermediate calculations. Round your answers to the nearest cent. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.) a. $600 per year for 10 years at 6%. $ b. $300 per year for 5 years at 3%. $ c. $600 per year for 5 years at 0%. $ d. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is,…
Please Help. What is the answer to 37,38 and 39
You just paid $475 for a security that claims it will pay you $1,322 in 14 years. What is your annual rate of return? SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.7021%, FOR EXAMPLE, ENTER 7.70.
Give typing answer with explanation and conclusion
You have just retired with savings of $5 million. If you expect to live for 59 years and to earn 8% a year on your savings, how much can you afford to spend each year (in $ 1 points Sav dollars)? $ (Assume that you spend the money at the start of each year.) A Moving to another question will save this response. Question 2 of 40 MacBook Air F11 F12 吕口 F3 888 F10 F6 F7 F8 F9 F2 F4 F5 & $ 4 3 5 7 9. E T Y U G H K L F V N M * 00 D.
Your neighbor goes to the post office once a month and picks up two checks, one for $13,000 and one for $3,000. The larger check takes 2 days to clear after it is deposited; the smaller one takes 4 days. Assume 30 days per month. 1. What is the total float for the month? 2. What is the average daily float? 3a. What is the average daily receipts? 3b. What is the weighted average delay?
use BA 2 PLUS CALCULATOR TO SOLVE PLEASE
You have just purchased new goods worth 10,000 EUR from your supplier. Your supplier offers you to pay within 45 days. If you pay within the first 10 days, you get a discount of 1.3%. You know that he might accept a delay of 2 days, but if you pay later than day 47, you will most likely get an additional fee of 550 EUR. You need your next delivery in 60 days and you know he will not deliver the new goods unless you pay the outstanding invoice. When would you pay? Why? What is the effective interest rate?