The cash account for Brentwood Bike Co. at May 1 indicated a balance of $34,250. During May, the total cash deposited was $140,300, and checks written totaled $138,880. The bank statement indicated a balance of $43,525 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $6,440. A deposit of $1,850 representing receipts of May 31 had been made too late to appear on the bank statement. The bank had collected for Brentwood Bike Co. $5,250 on a note left for collection. The face of the note was $5,000. A check for $390 returned with the statement had been incorrectly charged by the bank as $930. A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account. Bank service charges for May amounted to $30. A check for $1,325 from Jennings Co. was returned by the bank due to insufficient funds.

Instructions Prepare a bank reconciliation as of May 31.

Journalize the necessary entries. The accounts have not been closed. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?

I need just the October assignment for the Sousa Realty Mini Practice Set

the prepaid balance in the prepaid insurance account represent the remaining balance of two year policy purchased in April 2010
trial balance unjusted 31 October 2011
prepaid insurance 9350
the office furniture was purchased in March 1 2010 and has estimated useful life of two years of use it is expected that the furniture will be worthless
office furniture October 31 2011 unjusted trial balance
61440
what are   the adjustments t for this two transactions

Smith Company started business on September 1. Smith had credit sales of $200,000 in September and $300,000 in October. The pattern for collection of cash from customers is expected to be 40% in the month of sale (subject to a 2% cash discount), 50% in the month following the month of sale, and 7% in the second month following the month of sale, with 3% uncollectible. How much cash did Smith Company receive from customers on account during October?.

Smith Company started business on September 1. Smith had credit sales of $200,000 in September

and $300,000 in October. The pattern for collection of cash from customers is expected to be 40%

in the month of sale (subject to a 2% cash discount), 50% in the month following the month of sale,

and 7% in the second month following the month of sale, with 3% uncollectible. How much cash

did Smith Company receive from customers on account during October?

J. Lo’s Clothiers has forecast credit sales for the fourth quarter of the year:

Experience has shown that 35 percent of sales are collected in the month of sale, 65 percent are collected in the following month, and 0 percent are never collected.

Prepare a schedule of cash receipts for J. Lo’s Clothiers covering the fourth quarter (October through December).

Describe and compare the eight basic options strategies. American vs European Options like( at-the -money) or ( In-the-money)

Roughly what proportion of the American population has no health insurance? What is the typical income level of this population?

What are the major flaws in the American banking/financial system? In what ways can we fix them?

How did some American politicians justify U.S imperialism at the end of rhe 19th century?
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