Bank Reconciliation Statement : Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books. To prepare: Bank reconciliation of H Photography as at November 30, 2016.

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Answer 1

Question

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

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International trade is a hot topic in the media today. Trade agreements and governmental policies of countries reflect the mindset of the country’s citizens and leaders. Critiques of free trade and trade reduction instruments are all a part of the vocabulary of trade as are trade agreements and other efforts to expand trade. Using the country you chose in the Module 2 Discussion for your company’s expansion plan, develop an overview of that country’s trade policies. Research current examples of its membership in trading blocs, important tariffs imposed on certain goods, subsidies the country uses to develop certain industries and import quotas on products from other countries, or anything else you feel is important for your overview of the country’s international trade position. End your post with a question to the class on one of your points.

Answer 2

Question

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

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Answer 3

Question

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

Expert Solution & Answer

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Answer 4

Question

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

Expert Solution & Answer

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Answer 5

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

Answer 6

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Answer 7

Chapter 7, Problem 7.19E

Requirement 1

To determine

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.

To prepare: Bank reconciliation of H Photography as at November 30, 2016.

Answer 8

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Answer 9

Requirement 2:

To determine

The amount of cash with Mr. H as on November 30, 2015.

Answer 10

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

Answer 11

Requirement 3:

To determine

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 7 - Prob. 1QC Ch. 7 - Prob. 2QC Ch. 7 - Prob. 3QC Ch. 7 - Prob. 4QC Ch. 7 - Prob. 5QC Ch. 7 - Prob. 6QC Ch. 7 - Prob. 7QC Ch. 7 - Prob. 8QC Ch. 7 - Prob. 9QC Ch. 7 - Prob. 10QC

Solution Summary: The author explains that the bank reconciliation statement is prepared by the company to remove the differences and disagreement between cash balances per bank and books.

Concept explainers

The amount of cash with Mr. H as on November 30, 2015.

To journalize: The transactions that arise due to bank reconciliation to be recorded in the books of H Photography:

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Chapter 7 Solutions