A check register shows a balance of $171.11 before adding deposits of $400.00 and $421.87 . Three checks for $22.75, $618.90, and $35.00 are then written. Compute the amount of the new cash balance shown in the check register
$316.33
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The salary allocation to partners used in dividing net income would also appear as salary expense on the partnership income statement
a. True b. False Indicate whether the statement is true or false
Which of the following is not included in the prefatory parts of a formal report?
A) cover B) letter of authorization C) introduction D) table of contents E) title page
If fixed costs are $750,000 and variable costs are 80% of sales, what is the break-even point in sales dollars?
A) $937,500 B) $525,000 C) $3,750,000 D) $1,275,000
When is tax allocation necessary?
a. When a revenue or expense reaches the financial statements before it appears on the tax return b. When a revenue or expense reaches the tax return before it appears on the financial statements c. When the tax basis and book basis of assets and liabilities differ d. All of the above