Business, 15.04.2020 20:41 alishakira690

Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2013, its Cash account shows a $27,900 debit balance. The company?s May 31 bank statement shows $26,200 on deposit in the bank. a.The May 31 bank statement included a $120 debit memorandum for bank services; the company has not yet recorded the cost of these services. b.Outstanding checks as of May 31 total $5,800.c. May 31 cash receipts of $6,400 were placed in the bank?s night depository after banking hours and were not recorded on the May 31 bank statement. d.In reviewing the bank statement, a $420 check written by Smith Company was mistakenly drawn against Wright?s account. e.A debit memorandum for $560 refers to a $560 NSF check from a customer; the company has not yet recorded this NSF check.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:40, ashlynchristianson

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Answers: 3

continue

Business, 22.06.2019 03:00, rafa3997

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

Answers: 2

continue

Business, 22.06.2019 03:40, levicorey846

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Answers: 2

continue

Business, 22.06.2019 09:40, MileenaKitana

Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?

Answers: 2

continue

You know the right answer?

Wright Company deposits all cash receipts on the day when they are received and it makes all cash pa...