Entries by mary WAMBUGU

During 2018, Towson Company had credit sales of $46,000 and cash sales of $14,000. In 2018 Towson collected $31,000 of accounts receivable resulting from sales on credit.

August 30, 2019 in /by

During 2018, Towson Company had credit sales of $46,000 and cash sales of $14,000. In 2018 Towson collected $31,000 of accounts receivable resulting from sales on credit. Towson incurred operating expenses of $61,000; of this amount, $42,900 was paid in 2018, and the remaining balance represented a liability at year-end. In addition to these operating expenses, Towson also […]

 

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bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, deposits in transit of $317, outstanding checks of $221, and NSF checks of $90.

August 30, 2019 in /by

bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, deposits in transit of $317, outstanding checks of $221, and NSF checks of $90. The correct cash balance is? Question 1 options: $1,777 $1,479 $1,490 $1,580   Looking for a Similar Assignment? Order now and […]

 

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A bank reconciliation revealed bank charges of $11, outstanding checks of $221, and NSF checks of $90

August 30, 2019 in /by

A bank reconciliation revealed bank charges of $11, outstanding checks of $221, and NSF checks of $90. The journal entry to cause the company records to match the correct adjusted ending cash balance includes: Question 2 options: a credit to cash for $101 a credit to cash for $322 a credit to cash for $11 […]

 

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Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $182.

August 30, 2019 in /by

Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $182. The journal entry to reflect replenishment would include: Question 3 options: debits to expense of $318 a credit to Petty Cash for $318 a debit […]

 

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