The information below relates to the Cash account in the ledger of Novak Company.
Balance September 1—$17,160; Cash deposited—$64,240.
Balance September 30—$17,664; Checks written—$63,736.
The September bank statement shows a balance of $16,682 on September 30 and the following memoranda.
Credits Debits
Collection of $1,623 note plus interest $37 $1,660 NSF check: Richard Nance $555
Interest earned on checking account $52 Safety deposit box rent $72
At September 30, deposits in transit were $4,580, and outstanding checks totaled $2,513.
A. Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.)
B. Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note.
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Ответ:
A) account reconciliation
Bank account reconciliation:
Bank account balance $16,682
+ deposits in transit $4,580
- outstanding checks $2,513
reconciled bank account $18,749
Cash account reconciliation:
Cash account balance $17,664
+ Note collected $1,660
+ Interest revenue $52
- NSF check (R. Nance) $555
- Bank fees (safety deposit box rent) $72
reconciled cash account $18,749
B) Adjusting entries
September 30, NSF check
Dr Accounts receivable 555
Cr Cash 555
September 30, collection of notes receivable
Dr Cash 1,660
Cr Notes receivable 1,623
Cr Interest revenue 37
Ответ:
The answer is C: Countries become more interdependent on one another for goods and materials.
Explanation: