The balance according to the BCA bank statement shows a balance of IDR 7,175,000. Differences with company records are due to: A). Deposit of IDR 14.700.000d from the main bookstore on date 9/1 has not been recorded in the RK B). The bank has debited the bank administration fee of RP1,500,000 and credited for the current account service income of Rp1,350,000 Prepare the adjusting journal entries for the bank reconciliation

Q: The Maclin Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machinin...

A: Total cost is computed as total of direct materials, direct labor, and manufacturing overhead applie...

Q: On December 31, 2019, Ana Inc. sold merchandise for P750,000 to Ysa Inc. The terms of the sales were...

A: The question has asked effect of the errors on sales in 2019. In December 2019, Ana Inc sold merchan...

Q: On December 31, 2019, Ana Inc. sold merchandise for P750,000 to Ysa Inc. The terms of the sales were...

A: An accounting error is a mistake that occurs unintentionally in a financial transaction. When a mist...

Q: Sold services for $424.00 to J. Lepowsky, who agreed to pay for them within ten days. Sales Invoice ...

A: The transactions are firstly recorded in the books of Original entries known as Journal. Both debit ...

Q: State your agreement/disagreement and explain your answer: A taxpayer who intends to challenge an IR...

A: A person or an entity (such as a corporation) that is compelled to pay a tax is known as a taxpayer....

Q: Jim and Joe are partners agreeing to share profits and losses in a 2:6 ratio, respectively. Business...

A: The sharing of profit and loss in accordance with the profit and loss sharing ratio.it completely de...

Q: The fixed costs incurred by a automotive shop are $200,000 per year. Variable costs are 60% of the a...

A: The annual profit is calculated as revenue less variable cost and fixed costs 

Q: The balance of the account is $ How much of the investment account balance is interest? The amount o...

A: Investment account is the account on which the investor invests his or her money so that there will ...

Q: Complete the acounting for the following (you can use the Balance Sheet Equation, Journal Entries or...

A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...

Q: The Caribbean Industrial Producers manufactures two products, “Zinc” and” “Ply”. The following sales...

A: Material BZN980 Direct Materials Usage Budget  For the period from January 2016 to April 2016 ...

Q: etters Cabinets, Inc., needs to choose a production method for its new office shelf, the Maxistand. ...

A: Annual profit is the total amount of profit earned by selling the product. It includes all the costs...

Q: Accounts Debit Credit Cash 5,450 Accounts Receivable 16,200 Supplies Prepaid Insurance Equipment Not...

A: The adjustment entries are prepared to adjust the revenue and expenses for the current period.

Q: TROPA Inc. was incorporated on January 1, 2020, Information about its authorized shares is shown bel...

A: Total shareholders equity will consists of Equity share capital and securities premium and reserves ...

Q: On January 1, 2021, Wee Company acquired property consisting of ten identical freehold detached hous...

A: Gain on sale of investment: A gain will be recognized if the fair value of investment is higher than...

Q: a. Degree of operating leverage. b. Degree of financial leverage. Degree of combined leverage. с.

A: Solution:- a)Calculation of Degree of operating leverage as follows under:- Degree of operating leve...

Q: Admission by Investment of Assets Rizal Meds is a medical partnership of Dr. John Pete Sarabla and D...

A: The excess paid by new partner at admission is distributed among old partners in profit sharing rati...

Q: Paulson Company issues 7%, four-year bonds, on January1 of this year, with a par value of $91,000 an...

A: Solution 1: Date Particulars Debit Credit 01-Jan Cash A/c Dr  $84,447     Discount on Bond Pa...

Q: The balances for A and for B on July 1, 1987 are as follows     A ($) B ($) Cash 100,000 50,00...

A: CALCULATION OF GOODWILL   PURCHASE CONSIDERATION 70000 NCI ( 77500*20%) 15500   85500 IDENTI...

Q: The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as ...

A: A Trial Balance is a statement that shows either the balance or total amounts of debit and credit it...

Q: Total consideration from share issuances amounted to P3,000,000. A land and building were acquired t...

A: GIVEN    Total consideration from share issuances amounted to P3,000,000. A land and building were a...

Q: ABC Company leased equipment to DEF Company on July 1,2019, for a one year period expiring on June 3...

A: In case of short term operating lease, Lease income or expenses are recognized on straight line basi...

Q: What amount of interest income that Patbingsu should record for the year ended December 31, 2019?

A: Lease liability refers to obligation of the company requires to pay periodic lease payment on the le...

Q: Mr. X started a retail outlet named "X Foods" in his. His friend Y asks him to record the transactio...

A: Accounting is considered as the integral part of any business organization no business can meet its ...

Q: cost of textbooks

A: Given that three variables X, Y and Z.

Q: On January 1, 20xx, A, B, C and D formed 5G Trading Co., a partnership with capital contributions  a...

A: To compute the earnings of the partnership, we should consider the given data. So that we compute by...

Q: Common stock-$10 par value, 130,e00 shares authorized, 50,e00 shares issued and outstanding Paid-in ...

A: Date Account Titles  Debit   Credit  Jan'2 Treasury Stock  $      115,000     Cash    $      115...

Q: The Caribbean Industrial Producers manufactures two products, “Zinc” and” “Ply”. The following sales...

A: Material BZN980 Direct Materials Usage Budget  For the period from January 2016 to April 2016 ...

Q: The following transactions were given pertaining to Amit Bardar Pvt. Ltd. Find out the effect on Ass...

A: The business transactions effects two or more accounts of the business. The accounting equation stat...

Q: A journal entry has only two lines: a) Increase in one Expense account, b) Increase in another Expen...

A: The journal entry is made such as it affects two or more accounts and if one account is debited then...

Q: Please answer this correctly. Thank you:) 1. Describe the two economic events that occur for payrol...

A: Payroll is the compensation an employer pay to its employees for a set period or on a given date.

Q: Job 243 was recently completed. The following data have been recorded on its job cost sheet:     ...

A: Total product cost = Direct materials costs + Direct labor costs + overhead Unit product cost = Tota...

Q: On January 1, 20X9, Ute Company acquired 70 percent of Cougar Company's common shares at the underly...

A: Non-controlling interest refers to when a company has no control over the decision of the shares not...

Q: WHICH STATEMENT IS FALSE? A. If the net income of prior period is overstated because of the change i...

A: The correct answer for the above mentioned question is given in the following steps for your referen...

Q: List and explain briefly the phases of an internal control evaluation.

A: Internal controls are indeed defined as the measures put in place by a corporation to secure its ass...

Q: Given the following transactions for Dumfries Company during the month of October2021. 1. Shareholde...

A: Dumfries Company {During the Month of October} Date Accounts title Debit  Credit         1 Ca...

Q: TEST II. Instructions. Indicate which concepts/principles are violated. Support your answer 1. Purch...

A: Solution Accounting principle are the rules and guidelines that companies must follow when reporting...

Q: The following trial balance was extracted from the books of Movies To The Max Ltd at July 31, the en...

A: Adjusting journal entries Multi-step income statement

Q: Calculate the deferred tax liability given the following items incurred in 2020 by Company B. Bonuse...

A: Deferred tax liability = Taxable temporary difference × Tax rate Taxable temporary difference arises...

Q: Wayne, Wendell and Wesley are partners who share profits and losses equally. Their financial positio...

A: Statement of liquidation includes the amount of assets realized and liabilities paid. 

Q: Sunny introduces a new compact music player that carries a two-year warranty against manufacturer's ...

A: Solution: Total sales = $30,900,000 Actual warranty expenditure = $290,000

Q: Overstating ending inventory in the current year causes net income in the current year to be oversta...

A: 1. True 2. False The weighted-average cost includes both beginning inventory and purchases and is eq...

Q: The tax year ends every December 31. The entity reports quarterly for interim purposes and the quart...

A: Total income tax expense is the total amount of income tax which is calculated on the net income. Ne...

Q: The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $13,165. The bank statem...

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with ...

Q: TROPA Inc. was incorporated on January 1, 2020, Information about its authorized shares is shown bel...

A: Computation of the amount of total shareholders equity as of December 31 2020 is :

Q: all earnings for futu growth. Comparative Balar bous:

A: Return on shareholder equity explains the relationship between the net income and the average shareh...

Q: Ellie, together with their respective profit and loss ratios, were as follows: 6. On June 30, 2020, ...

A: The partnership comes into existence when two or more persons agree to do the business and further s...

Q: Zachary Company has 600,000 shares of common stock outstanding. Perette Corporation purchases 168,00...

A: Formula: Perette own = Total purchases / Total outstanding shares

Q: The following information were gathered from 3 Stripes Company for the month ended December 31, 2022...

A: Statement of proof of cash is prepared to reconcile the balance as per bank book and bank column of ...

Q: A Liquor warehouse expects to sell 10,000 bottles of scotch whiskey in a year. Each bottles costs $1...

A: Step2 in the solution- 

Q: Given the ledger accounts of Barella Company as of January 31, 2020: Accounts Payable $3,000 Rent Ex...

A: Trial Balance: Trial balance is a statement in which the closing balance of all ledger accounts are ...

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.