Managerial Accounting
Managerial Accounting
17th Edition
ISBN: 9781260709568
Author: Garrison, Ray
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 9, Problem 7Q
To determine

Concept Introduction:

The difference that arises between the flexible budget and actual results is termed as flexible budget variance. The flexible budget is more than the actual, it is considered to be favorable variance and vice versa.

To explain: The revenue variance and its indication.

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Burson Enterprises' May 31 bank reconciliation shows deposits in transit of $850. The general ledger Cash in Bank account shows total cash receipts during June of $48,500. The June bank statement shows total cash deposits of $44,300 (including $1,500 from the collection of a note; the note collection has not yet been recorded by Burson). What amount of deposits in transit should appear in the June 30 bank reconciliation? Help
What should be the adjusted cash balance
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