Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. answer all questions please use the followi

Answer all questions please Use the following to...

60.1K

Verified Solution

Question

Accounting

Answer all questions please image
image
Use the following to answer questions 62-64 The Cash account in the ledger of Hensley, Inc. showed a balance of $3,100 at June 30. The bank statement, however, showed a balance of $3,900 at the same date. The only reconciling hems consisted of a $700 deposit in transit, a bank service charge of $7, and a large umber of outstanding checks 62. Refer to the above data. Upon completion of the bank reconciliation, a journal entry will be required to update the depositor's accounting records. This entry will inchude A) a credit to Cash for $700. B) a debit to Cash for $700. C) a debit to Cash for $7. D) a debit to Bank Service Charge Expense for $7. 63. Refer to the above data. What is the total amount of the oustanding chocks a Tone 30 A) $1,513. B) $1,486 C) $1,507. D) Some other amount

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The paint used to make lines on roads must reflect enough light to be clearly visible...

Basic Math
Q

C 64 20 c 31 4 b 26 6 Select the correct choice below and...

Geometry
Q

When no more than 110 units are produced the cost of producing y units is...

Basic Math
Q

Evaluate the integral 59 sec 460 de

Calculus
Q

A new species of bird is introduced into a sanctuary Conservationists monitor the population of...

Algebra
Q

6 Solve the matrix equation 1 1 2 3 0 2 1 2 1 578...

Algebra
Q

Snip \& Sketch Presented below is information related to equipment owned by Windsor...

Accounting
Q

The following items and amounts were taken from Sheridan Inc.'s 2022 financial statements. ...

Accounting
Q

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its...

Accounting
Q

Prepare journal entries for XYZ (the seller) for the following transactions using the gross method:...

Accounting
Q

You are a member of a newly formed team that has been tasked with designing...

Accounting
Q

Taterville is served by four store chains that sell snack chips. Spud Wilson has coliected...

Finance