TB MC Qu. 7-44 (Algo) Wilson Company had the following cash balance... Wilson Company had the following cash balance items listed in its trial balance at 12/31/2024: Peterson Savings and Loan: Right Bank: Clinton County Trust Bank: If Wilson reports under U.S. GAAP, its 12/31/2024 balance sheet would show what cash balance? Multiple Choice ($12,500) $77,500 $ 65,000 (12,500) 25,000 $90,000 None these answer choices are correct.
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![TB MC Qu. 7-44 (Algo) Wilson Company had the following cash
balance...
Wilson Company had the following cash balance items listed in its trial balance at
12/31/2024:
Peterson Savings and Loan:
Right Bank:
Clinton County Trust Bank:
If Wilson reports under U.S. GAAP, its 12/31/2024 balance sheet would show what cash
balance?
Multiple Choice
($12,500)
$77,500
$ 65,000
(12,500)
25,000
$90,000
None these answer choices are correct.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c0e8671-67bf-4961-a412-94567260751e%2F597cd526-215a-45fa-97a9-70ca11fec95c%2Fqvhg4l2_processed.jpeg&w=3840&q=75)
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- www O 0 P7.3 (LO 3), AP On July 31, 2025, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement with the Cash account revealed the following facts. The bank service charge for July was $25. The bank collected $1,520 from a customer for Keeds Company through electronic funds transfer. The July 31 receipts of $1,193.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $384 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348. Checks outstanding on July 31 totaled $1,860.10. On July 31, the bank statement showed an NSF charge of $575 for a check received by the company from W. Krueger, a customer, on account. Instructions Prepare the bank reconciliation as of July 31. Adjusted cash bal.…Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Cash Accounts receivable Equipment, net Land Total assets QS 17-6 (Algo) Vertical analysis LO P2 Current Year $ 12,700 64,000 64,000 100,500 $ 241,200 Cash Accounts receivable Equipment, net Express the items in common-size percents. (Round your percentage answers to one decimal place.) Land Total assets Current Year Prior Year $ 16, 200 29,900 56,000 76,000 $ 178,100 % % % % 0.0 % Prior Year % % % % 0.0 %*P7.13 (Bank Reconciliation and Adjusting Entries) The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2020. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash records, the following facts were determined. 1. There were bank service charges for June of $25. 2. A bank memo stated that Bao Dai’s note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar’s books when Bao Dai’s note was sent to the bank for collection.) 3. Receipts for June 30 for $3,390 were not deposited until July 2. 4. Checks outstanding on June 30 totaled $2,136.05. 5. The bank had charged the Aguilar Co.’s account for a customer’s uncollectible check amounting to $253.20 on June 29. 6. A customer’s check for $90 (as payment on the customer’s Accounts Receivable) had been entered as $60 in the cash receipts…
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