What is double entry for the following transaction: Paid MK20000 of the cash in hand into bank account
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What is double entry for the following transaction:
Paid MK20000 of the cash in hand into bank account
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- To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. issued stock for cash $20,000 B. purchased supplies inventory on account $1,800 C. paid employee salaries; assume it was current days expenses $950 D. paid note payment to bank (principal only) $1,200 E. collected balance on accounts receivable $4,750Leann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.Hajun Company received the following bank statement. Using the information from PB9 and PB10, prepare the bank reconciliation.
- Match the following words with their definitions by entering the correct number in the spaces below. 1.deposit ticket 2.ATM 3.check 4.bank statement 5.blank endorsement _____ a.A document ordering a bank to pay cash from a depositors account. _____ b.An endorsement where the payee simply signs the back of the check, making the check payable to any bearer. _____ c.Automated teller machinea machine used by depositors to make withdrawals or deposits at any time. _____ d.A statement of account issued by a bank to each depositor once a month. _____ e.A form showing a detailed listing of items being deposited.Record the following transactions: A. Started a petty cash fund in the amount of $200. B. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $66. Cash on hand is $10. C. Increased petty cash by $75.Domingo Company received the following bank statement. Using PA9, prepare the bank reconciliation.
- What is double entry for the following transaction: Took MK20600 out of bank and put into the cash billaccounts transaction for deposited Rm 11000 of the business cash into the bank accountWhich of the following is considered cash? a. Thirty-day certificate of deposits b. Customer’s post-dated checks c. Six-month money market savings certificates d. Money market checking accounts
