Accounting

b. There are two differences between the bank statement and the check register. Describe each of them. (2-4 sentences. 1.0 points) TIP: These are transactions that Jessie Robinson forgot to write down in the check register.

b. There are two differences between the bank statement and the check register. Describe each of them. (2-4 sentences. 1.0 points) TIP: These are transactions that Jessie

This morning, Mr. Marchese called the branch seeking approval of an overdraft. Since the loan is in Workout, the branch transferred the call to my attention. Dan requested that I approve an overdraft, a $1,500 payment to Amex. I told him I can’t approve the overdraft unless there are readily available funds in the account. He replied that, earlier this morning, he transferred $3,500 from the attorney trust account to the business checking account therefore the OD should be approved.

b. There are two differences between the bank statement and the check register. Describe each of them. (2-4 sentences. 1.0 points) TIP: These are transactions that Jessie Robinson forgot to write down in the check register.

Post-receipt of confirmation request activities, BNY Federal confirmed and approved that the cash balances were correct for Simply Soups Inc. Sparkasse-Frankfurt’s initial response after receiving the account balance confirmation request was that the cash balance on record and account balance did not match. Nonetheless, on the second confirmation request the institution received, they would reconfirm the cash balances after documenting incorrect cash account amounts. American Northwest Bank responded to the request confirming that the cash bank balances are correct, however the manager of the financial

Cindy Chan paid $10 more than she owed when she was seeing Dr. Hughes. Refund her money using check #5654. 29. Carter Graves decided to postpone his knee surgery when his wife suddenly became ill. Use check #5655 to refund his $500 deposit. 30. Determine the balance of the checking account after the funds in questions 26 to 29 have been deducted.

1. On november 1, 2009 Broom company received a bank statement that showed a $2,950 balance. Broom showed a $4,010 checking account balance. The bank did not return the check No. 124 for $1,080 and check No 138 for $720. A $3,200 deposit made on October 30 was in transit. The bank charged Broom $12 for check

California Surf Clothing Company issues 1,300 shares of $7 par value common stock at $22 per share. Later in the year, the company decides to repurchase 130 shares at a cost of $35 per share.

17. Which of the following is not a procedure for control of cash payments? A. B. C. D. Checks should be properly authorized with approval signatures. The business should provide written

* Photocopies of fronts of two checks payable to Lisa (for $61.00 and 478.29) but the canceled checks were not able to be located or find evidence that it cleared IBC’s bank account. (508)

Xilinx, Inc. designs, develops, and markets complete programmable logic solutions, including advanced integrated circuits, software design tools, predefined system functions delivered as intellectual property cores, customer training, field engineering and technical support. Customers are electronic equipment manufacturers primarily in the telecommunications, networking, computing, industrial, and consumer markets. Products are sold globally through a direct sales management organization and through franchised domestic and foreign distributors. (Source: Company 2007 Form 10-K)

1. Cash (Exhibit 7-11)............................................ $1,875 2. Gross sales revenue (Exhibit 7-9)................... $7,491 Less: Sales discounts (Exhibit 7-9)................ (35) Net sales revenue............................................. $7,456 3. Purchased furniture on account— Purchases journal p. 8 (Exhibit 7-10) 4. City Office Supply November 30 balance (Exhibit 7-11)............... $ 543

1. A NSF check should appear in which section of the bank reconciliation? (Points : 2)

List other items that must be included in the bank reconciliation. Describe the impact of each on the

Table of Contents ................................................................................................................................................ 1 Assignment Background .................................................................................................................................. 2 Bigg-Glowbell Overview ...................................................................................................................................... 3 The Company History ...................................................................................................................................... 3