The following information pertains to Crane Video Company:

1. Cash balance per bank, July 31, $7,843.
2. July bank service charge not recorded by the depositor, $37.
3. Cash balance per books, July 31, $7,864.
4. Deposits in transit, July 31, $1,790.
5. Bank collected $1,190 note for Crane in July, plus interest $45, less fee $29. The collection has not been recorded by Crane and no interest has been accrued.
6. Outstanding checks, July 31, $600.
Required:

1. Prepare a bank reconciliation at July 31.

List items that increase cash balance first.

Reconcile cash balance per bank first.

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.