he following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 18,800 Balance per company records 10,680 Bank service charges 20 Deposit in transit 3,750 Note collected by bank with $150 interest 5,050 Outstanding checks 6,840 a. What is the adjusted balance on the bank reconciliation? $ b. Journalize any necessary entries for Lays Company based on the bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “he following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 18,800 Balance per company ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The impact of war and terrorism on U. S. business is that Multiple Choice A) fewer jobs will be created in the United States. B) companies have increased organizational costs, including insurance costs. C) there is less global trade.
Answers (1)
Why is it so difficult to determine when a minor gift, entertainment, or incentive constitutes a bribe?
Answers (1)
Jasper makes a $45,000, 90-day, 6.5% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.) Multiple Choice: a.
Answers (1)
Where should you keep a record of all the actions you have taken in trying to land a job
Answers (1)
3. Two equal-sized newspapers have overlap circulation of 10% (10% of the subscribers subscribe to both newspapers).
Answers (1)
New Questions in Business
Fran has a job involved with controlling the flow of oil through a series of pipelines at the refinery. As a part of his work, he needs to interpret diagrams, levels, and readings from gauges.
Answers (1)
Choose the appropriate stage of the venture life cycle in which the following activities would occur. Transition from one-person leadership to team management leadership New-product development Search for capital Increased competition Venture
Answers (1)
According to the International Monetary Fund, a perennial challenge facing all of the world's countries, regardless of their level of economic development, is achieving financial stability, economic growth, and higher living standards.
Answers (1)
Round Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 155,000 shares of stock outstanding.
Answers (1)
Assume that Fey Company reports the following initial balance and subsequent purchase of inventory. Inventory balance at beginning of year 1,200 units @ $60 each $ 72,000 Inventory purchased during the year 1,800 units @ $90 each 162,000 Cost of
Answers (1)