Dreammaker KitchensThe following information relates to the company's November bank reconciliation:
Bank statement balance$10,700
Unadjusted cash balance from the company's records?
Deposit in transit2,100
Outstanding checks1,200
Bank service charges300
Interest earned on the bank account100
Customer's NSF check returned by the bank400
Refer to Dreammaker Kitchens. As a result of the bank reconciliation process, what is the net increase or decrease in cash which must be recorded on the company's books?
A. $100 decrease
B. $300 decrease
C. $400 decrease
D. $600 decrease
Answer: D
You might also like to view...
Harbor City Corporation's end-of-year balance sheet consisted of the following amounts: Cash $ 15,000 Accounts receivable $ 50,000 Property, plant, and equipment 70,000 Long-term debt 40,000 Capital stock 100,000 Accounts payable 20,000 Retained earnings ? Inventory 35,000 What is Harbor City's retained earnings balance at the end of the current year?
a. $10,000 b. $110,000 c. $160,000 d. $170,000
The sales force is rewarded on a commission basis. It wants to sell quantity and is willing to be flexible on price, whereas the organizations strategy is high quality, high price. Identify this source of conflict
A) goal divergence B) domain dissensus C) differing perceptions of reality D) misuse of power
How is pension expense calculated under SFAS No. 87, and when is pension liability recognized?
What will be an ideal response?
Outside the U.S., public relations firms are typically called which of the following?
A. Marketing communicators C. Publicity agencies B. Public relations associates D. Organizational relations firms C. Public relations consultancies