During the month of July, Clanton Industries issued a check in the amount of $723 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. Add the check amount to the bank balance.
B. Deduct the check amount from the bank balance.
C. Deduct the check amount from the book balance of cash.
D. Make a journal entry in the company records for an error.
E. Add the check amount to the book balance of cash.
Answer: B
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The balance sheet portrays the effects of a firm's investing and financing decisions. In analyzing these decisions, what two principles guide financing decisions:
When a company has established a successful domestic marketing mix
A. they are simply waiting for the competitive forces to kick in. B. frequently the hurdles to going international are daunting. C. the temptation is to duplicate this mix when going abroad. D. the temptation to export excess domestic inventory is tempting.
Most large corporations outside of their national borders. For corporations that are not multinational or international, who do they rely on to sell to customers beyond their borders ?
a. Employees on travel b. Vendors c. Telephone centers d. Online sales
Iglesias, Inc completed Job 12 on November 30
The details of Job 12 are given below: Direct labor cost $890 Direct materials cost $1,100 Machine hours 8 hours Direct labor hours 21 hours Predetermined overhead allocation rate $60 per machine hour What is the total cost of Job 12? A) $2,470 B) $1,990 C) $1,370 D) $1,580