During the month of July, Clanton Industries issued a check in the amount of $845 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should:
A. Deduct the check amount from the bank balance.
B. Make a journal entry in the company records for an error.
C. Add the check amount to the bank balance.
D. Add the check amount to the book balance of cash.
E. Deduct the check amount from the book balance of cash.
Answer: A
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Washington Corp reported the following information for 2016 and 2017. 2016 2017 Accounts receivable $101,000 $93,000 Prepaid expenses 5,000 6,000 Accounts payable 71,000 76,000 Salaries payable 5,000 4,000 Net income 80,000 Depreciation expense 9,000 Gain on sale of equipment 5,000 If Washington uses the indirect method to prepare the operating activities section of the statement of cash flows,
what amount will be reported as net cash inflow from operating activities for 2017? a. $73,000 b. $83,000 c. $95,000 d. $105,000
Employers are legally required to treat pregnancy the same way they treat any other medical disability.
Answer the following statement true (T) or false (F)
Using liquidated damage clauses in delivery contracts is an example of mitigating strategy for ______.
a. security risks b. failure to deliver the needed services on time c. failure to realize the expected cost savings d. market risks
Which of the below are not defenses to a charge of criminal conduct?
a. self-defense b. insanity c. duress d. the victim's acquiescence