Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation

Balance per bank
$14,728

Add: Deposits in transit
3,240

Deduct: Outstanding checks
(4,208

)

Balance per books
$13,760

Month of July Results

Per Bank

Per Books

Balance July 31 $18,199 $19,462
July deposits 9,468 12,224
July checks 8,416 6,522
July note collected (not included in July deposits) 3,156
July bank service charge 32
July NSF check from a customer, returned by the bank (recorded by bank as a charge) 705
Exercise 7-24 Angela Lansbury Company deposits all

Exercise 7-24 Angela Lansbury Company deposits all
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
Angela Lansbury Company
Bank Reconciliation
July 31

Deposits in transitOutstanding checksBalance per books, July 31Bank service chargeNSF checkCorrect cash balance, July 31Balance per bank statement, July 31Collection of note

$


LessAdd

:
Deposits in transitUnderstated check for suppliesBalance per books, July 31Collection of noteBank service chargeCorrect cash balance, July 31NSF checkBalance per bank statement, July 31



LessAdd

:
NSF checkBank service chargeCorrect cash balance, July 31Balance per bank statement, July 31Understated check for suppliesBalance per books, July 31Collection of noteOutstanding checks



Deposits in transitBank service chargeBalance per books, July 31Balance per bank statement, July 31Outstanding checksCollection of noteNSF checkCorrect cash balance, July 31

$


Balance per bank statement, July 31NSF checkDeposits in transitBank service chargeCorrect cash balance, July 31Outstanding checksBalance per books, July 31Collection of note

$


AddLess

:
Collection of noteBalance per books, July 31Balance per bank statement, July 31Bank service chargeNSF checkCorrect cash balance, July 31Deposits in transitOutstanding checks



LessAdd

:
Deposits in transit Outstanding checks Correct cash balance, July 31 Balance per bank statement, July 31 Balance per books, July 31 Collection of note Bank service charge NSF check

$


Balance per bank statement, July 31 Bank service charge Deposits in transit Outstanding checks NSF check Balance per books, July 31 Collection of note Correct cash balance, July 31





Balance per bank statement, July 31NSF checkCorrect cash balance, July 31Deposits in transitBank service chargeBalance per books, July 31Outstanding checksCollection of note

$


SHOW LIST OF ACCOUNTS

LINK TO TEXT

Exercise 7-24 Angela Lansbury Company deposits all

Exercise 7-24 Angela Lansbury Company deposits all
Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Account Titles and Explanation

Debit

Credit

Answer:

a. Adjusted Balance = Adjusted Balance = $21,881.

b. See the journal below.

Explanation:

Note: The actual data needed to answer this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data that are actually needed.

Explanation of the answers is now given as follows:

a. Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.

Angela Lansbury Company

July 30 Bank Reconciliation  

Details                                                                         Amount ($)  

Balance as per bank                                                       18,199  

Add:  

Deposit In transit ($3,240 + $12,224 - $9,468)             5,996

Less:  

Outstanding Checks ($4,208 + $6,522 - $8,416)         (2,314)  

Adjusted Balance                                                           21,881  

Balance as per book                                                      19,462  

Add:  

Note Collected                                                                 3,156  

Less:  

Bank Service charge                                                          (32)

NSf Check                                                                         (705)    

Adjusted Balance                                                           21,881  

b. Prepare the general journal entry to correct the Cash account.

The journal entries will look as follows:

Particulars                             Debit ($)        Credit ($)    

Cash                                         3,156  

Note Collected                                                3,156

(To record note collected by bank.)                                

Bank Service charge                  32  

Cash                                                                    32

(To record Bank Service charge.)                                      

Account Receivable                  705  

NSf Check                                                        705

(To record NSf Check.)                                                      

Rovinsky Corporation, a company that produces and sells a single product, has provided its contribution format income statement for November.

Sales (6,900 units) $400,200
Variable expenses 262,200
Contribution margin 138,000
Fixed expenses 103,500
Net operating income $34,500

If the company sells 6,800 units, its net operating income should be closest to:________

a. $33,979
b. $32,500
c. $34,500

is the term used to describe the ideas that there is competition between buyers and sellers, and the articles for sale have essentially the same qualities, purposes, performance, and price.?​

An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for four years, using the straight-line method at 10% per annum. The proceeds from the sale of this asset was $38,700. What was the gain or loss on the asset, if any?

which layer of the atmosphere provide rainwater to the planet​

The Clemson Company reported the following results last year for the manufacture and sale of one of its products known as a Tam.

Sales (6,500 Tams at $130 each) $845,000
Variable cost of sales 390,000
Variable distribution costs 65,000
Fixed advertising expense 275,000
Salary of product line manager 25,000
Fixed manufacturing overhead 145,000
Net loss ($55,000)

Clemson Company is trying to determine whether or not to discontinue the manufacture and sale of Tams. The operating results reported above for last year are expected to continue in the foreseeable future if the product is not dropped. The fixed manufacturing overhead represents the costs of production facilities and equipment that the Tam product shares with other products. Assume that discontinuing the Tam product would result in a $120,000 increase in the contribution margin of other product lines.

Required:
How many Tams would have to be sold next year for the company to be as well off as if it just dropped the line and enjoyed the increase in contribution margin from other products?

Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $ 38,000 Assets $ 27,300 Debt $ 6,700 Costs 32,600 Equity 20,600 Net income $ 5,400 Total $ 27,300 Total $ 27,300 The company has predicted a sales increase of 15 percent. It has predicted that every item on the balance sheet will increase by 15 percent as well. Create the pro forma statements and reconcile them. (Input all amounts as positive values. Do not round intermediate calculations.) What is the plug variable?

The cash records of Crane Company show the following. For July:

1. The June 30 bank reconciliation indicated that deposits in transit total $730. During July, the general ledger account Cash shows deposits of $18,550, but the bank statement indicates that only $15,720 in deposits were received during the month.
2. The June 30 bank reconciliation also reported outstanding checks of $910. During the month of July, Crane Company books show that $18,540 of checks were issued, yet the bank statement showed that $16,020 of checks cleared the bank in July. For September:
3. In September, deposits per bank statement totaled $27,280, deposits per books were $26,010, and deposits in transit at September 30 were $2,850.
4. In September, cash disbursements per books were $23,110, checks clearing the bank were $24,460, and outstanding checks at September 30 were $2,380. There were no bank debit or credit memoranda, and no errors were made by either the bank or Crane Company.

Required:
a. In situation 1, what were the deposits in transit at July 31?
b. In situation (2), what were the outstanding checks at July 31?
c. In situation (3), what were the deposits in transit at August 31?
d. In situation (4), what were the outstanding checks at August 31?

Which descriptions offer examples of Management and Entrepreneurship workers? Check all that apply.

Mona teaches potential customers how to use a product.
Bess supervises workers who help to improve the public’s perception of a company.
Julius organizes and oversees a company’s purchasing activities.
Charlie plans and arranges merchandise displays.
Debbie oversees the content of a website for a company that sells its product online.
Angelo directs the work of a company’s sales workers.

7 the follow table contains the demand from the last 10 months :

critics of classical management theory

Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $10 per unit. They send orders electronically to the manufacturer, costing $20 per order and they experience an average lead time of 8 days for each order to arrive from the manufacturer. Their inventory carrying cost is 20%. The average daily demand for the figurines is 2 units per day. They are open for business 250 days a year. Answer the following questions:

Required:
a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time.
b. How many orders will it place in a year?
c. What is the average inventory?
d. What is the annual ordering cost?
e. What is the annual inventory carrying cost?

The Food Max grocery store sells three brands of milk in half-gallon cartons—its own brand, a local dairy brand, and a national brand. The profit from its own brand is $0.97 per carton, the profit from the local dairy brand is $0.83 per carton, and the profit from the national brand is SO.69 per carton. The total refrigerated shelf space allotted to half-gallon cartons of milk is 36 square feet per week. A half-gallon carton takes up 16 square inches of shelf space. The store manager knows
that each week Food Max always sells more of the national brand than of the local dairy brand and its own brand combined and at least three times as much of the national brand as its own brand. In addition, the local dairy can supply only 10 dozen cartons per week. The store manager wants to know how many half-gallon cartons of each brand to stock each week in order to maximize profit.

a. Formulate a linear programming model for this problem.
b. Solve this model by using the computer.

Select from the option list provided the most likely classification(s) of net assets, if any, that are affected by each transaction of a not-for-profit entity. The entity reports the minimum required classes of net assets. Each choice may be used once, more than once, or not at all.

1. Legally restricted gains.
2. Expenses reported by functional classification.
3. Contributions of services that do not create or enhance nonfinancial assets or require special skills.
4. Costs of collection items not capitalized by the NFP.
5. Board-designated endowment.
6. Expenses reported by natural classification.
7. Conditional promise to give if the barrier has not been overcome.
8. Unconditional promises to give cash with amounts due in future periods.
9. Receipt of a gift restricted to acquisition of a long-lived asset that has been placed in service. The entity chooses to imply a time restriction over the life of the asset.
10. Investment return on a donor-restricted perpetual endowment fund with no donor restriction on the investment return, which has not been appropriated by the governing board.
11. Losses on an underwater endowment fund.

a. Net Assets without Donor Restrictions
b. Net Assets with Donor Restrictions
c. Net Assets without Donor Restrictions or Net Assets with Donor Restrictions
d. Temporarily Restricted Net Assets
e. Permanently Restricted Net Assets
f. No Effect on Net Assets

Can someone please help me on this

Hassick Corporation produces and sells a single product whose contribution margin ratio is 63%. The company's monthly fixed expense is $460,530 and the company's monthly target profit is $19,000. The dollar sales to attain that target profit is closest to:

You should indicate that you are available for an interview in which part of a cover letter?


in the final paragraph

in the second paragraph

in the third paragraph

in the first paragraph

If a business wants to open in a new country, when would it be the best time to do that on the Business Cycle? Why?

Select all of the examples of a scenario in which the firm is demonstrating financial weakness.

a. An ROA of 0.7 when the industry average is 1.4.
b. A current ratio of 0.5.
c. An ROE of 1.4 when the industry average is 1.15.
d. A quick ratio above the industry average of 0.9.
e. A fixed asset ratio of 0.6 when the industry average is 1.1.
f. A debt capital ratio of 0.7 when the industry average is 0.15

The following data relate to the Torrence Company for May and August:

May August
Maintenance hours 25,000 29,000
Maintenance cost $1,175,000 $1,247,000

May and August were the lowest and highest activity levels, and Torrence uses the high-low method to analyze cost behavior. If maintenance hours are estimated to be 26,000 hours in October, which of the following statements is true?

a. Total maintenance costs will be $1,182,000.
b. Total maintenance costs will be $1,193,000.
c. Total maintenance costs will be $1,247,000.
d. Total maintenance costs will be $1,221,000.
e. Total maintenance costs will be $1,175,000.

Q2. Describe three roles of the Government in a Planned or Command Econom
What are some of its function? ​

Calculate the unit product cost under absorption costing using the following information.
Direct materials: $50/unit
Direct labor: $75/Unit
Variable manufacturing overhead:$27/Unit
Fixed manufacturing overhead: $30,000
Units produced: 10,000
Units sold: 6,000

How has the 'gig economy' impacted variable and fixed costs for businesses?

money is what money does discuss
​

The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:
Sales $792,000
Gross profit $462,000
Cost of goods manufactured $396,000
Indirect labor $171,600
Factory deprecation $26,400
Materials purchased $244,200
Total manufacturing costs for the period $244,200
Materials inventory, ending $33,000
Using the information given, determine the following missing amounts:
Cost of goods sold
Finished goods inventory at the end of the month
Direct materials cost
Direct labor cost
Work in process inventory at the end of the month

On January 1, 2016, D Corp. granted an employee an option to purchase 8,500 shares of D's $3 par common stock at $21 per share. The options became exercisable on December 31, 2017, after the employee completed two years of service. The option was exercised on January 10, 2018. The market prices of D's stock were as follows: January 1, 2016, $31; December 31, 2017, $57; and January 10, 2018, $45. An option pricing model estimated the value of the options at $8 each on the grant date. For 2016, D should recognize compensation expense of:A. $ 0.B. $131,750.C. $25,500.D. $34,000.

Cupola Fan Corporation issued 10%, $400,000, 10-year bonds for $385,000 on June 30, 2018. Debt issue costs were $1,500. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2019), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.Required:1. Prepare the journal entry to record the issuance of the bonds.2. Prepare the journal entries to record the payment of interest and amortization of debt issue costs on December 31, 2018.3. Prepare the journal entries to record the payment of interest and amortization of debt issue costs on June 30, 2019.4. Prepare the journal entry to record the call of the bonds.

The following information relates to a product produced by Bayfield Company:Direct materials $50Direct labor 35Variable overhead 30Fixed overhead 40Unit cost $155Fixed selling costs are $1,000,000 per year. Although production capacity is 900,000 units per year, Bayfield expects to produce only 800,000 units next year. The product normally sells for $180 each. A customer has offered to buy 60,000 units for $150 each. The customer will pay the transportation charge on the units purchased.Requirements:1) Compute the effect on income if Bayfield accepts the special order.2) If Bayfield accepts the special order, how much could normal sales drop before all of the differential profits disappear?

Victorinox is the name of the company that manufactures Swiss army knives. The _____ channel the company utilizes to get its knives to market is to wholesalers, than to retailers, and finally to consumers.

promotional
service
consumer
industrial
distribution

Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400. The machine's useful life is estimated at 20 years, or 387,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 32,700 units of product.

Required:
Determine the machine's second-year depreciation using the double-declining balance method.

Cost-volume-profit analysis can also be used in making personal financial decisions. For example, the purchase of a new car is one of your biggest personal expenditures. It is important that you carefully analyze your options. Suppose that you are considering the purchase of a hybrid vehicle. Let’s assume the following facts. The hybrid will initially cost an additional $4,500 above the cost of a traditional vehicle. The hybrid will get 30 miles per gallon of gas, and the traditional car will get 20 miles per gallon. Also, assume that the cost of gas is $1.80 per gallon. Using the facts above, answer the following questions.

a. What is the variable gasoline cost of going one mile in the hybrid car?
b. What is the variable cost of going one mile in the traditional car?