+ Reply to Thread
Results 1 to 2 of 2

Thread: Help please!! 3 probably easy problems stuck on.

  1. #1
    n00b theuppercut04 is on a distinguished road
    Join Date
    Nov 2009
    Posts
    2
    Rep Power
    0

    Default Help please!! 3 probably easy problems stuck on.

    The bank statement for Teal Company contained the following items: a bank service charge of $10; a credit memo for interest earned, $15; and a $50 NSF check from a customer. The company had outstanding checks of $100 and a deposit in transit of $300.
    6. Assuming that the unadjusted bank balance was $600, determine the unadjusted book balance.
    a. $800.
    b. $555.
    c. $845.
    d. $900.

    (new problem)

    On January 1, 2007 Grant Company had a $4,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During 2007, Grant provided $25,000 of service on account. The company collected $24,000 cash from account receivable. Bad debts are estimated to be 2% of sales on account.
    Based on this information, the amount of cash flow from operating activities that would appear on the 2007 statement of cash flows is:
    a. $24,850.
    b. $25,000.
    c. $22,900.
    d. $24,000.
    The amount of bad debts expense to recognize on the 2007 income statement is:
    a. $80.
    b. $250.
    c. $480.
    d. $500.

  2. #2
    n00b theuppercut04 is on a distinguished road
    Join Date
    Nov 2009
    Posts
    2
    Rep Power
    0

    Default

    still struggling with this, could someone please help me find the correct answers?

    Missed the last week of class due to the flu

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

     

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Arcade Games | Video Game Trailers