Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)
Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)
12th Edition
ISBN: 9780134491509
Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae
Publisher: PEARSON
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Chapter 8, Problem E8.21E
To determine

Bank reconciliation statement: A process where the Unadjusted Bank and Book Balance are adjusted, so that they reconcile with each other.

To indicate: The Bank Reconciliation Statement for Hardy Photography.

To determine

Requirement 2:

The actual cash balance of Hardy Photography.

To determine

Requirement 3:

To indicate: The journals of all the transactions that were not recorded in the Cash Book of the company.

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Use the reconciliation approach to determine cash paid for inventory for the Ferris Company for 2012. Assume all inventory is bought on account and the accounts payable account is used only for inventory. Beginning and ending balances of merchandise inventory were $6,200 and $9,400 respectively. Beginning and ending balances of accounts payable were $2000 and $1,400 respectively. Sales revenue amounted to $68, 512 and cost of goods sold was $41,904.

Chapter 8 Solutions

Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)

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