Principles of Accounting I 4.pdf - - ACCT 220 7983...

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12/17/17, 7'46 PM- ACCT 220 7983 Principles of Accounting I (2178) - UMUC Learning Management SystemChristy Shanks (username: CSHANKS4)Attempt 1Written: Nov 21, 2017 5:13 PM - Nov 28, 2017 11:08 PMAttempt FeedbackChristy, you seem to understand many of the concepts we are studying.However, you have a number of errors in your work.Pleasereview the feedback and let me know if you have any questions.Submission ViewFIB - 1Question 11 / 3 pointsThe following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:ItemAmountEnding Cash per Bank Statement$1,700Ending Cash per Company Books$1,905Bank Service Charges$25Deposits in Transit$425Outstanding Cheques$350Customer Cheque returned NSF$105What is the adjusted cash balance based on the completed bank reconciliation?
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Managerial Accounting: The Cornerstone of Business Decision-Making
Hansen/Mowen
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12/17/17, 7'46 PM- ACCT 220 7983 Principles of Accounting I (2178) - UMUC Learning Management SystemPage 2 of 16…i=586298&ai=3855333&isInPopup=0&cfql=1&d2l_body_type=3&ou=252928Hide FeedbackAnswer: $1,775Solution Notes:Alpha CompanyBank ReconciliationMarch 31, 2016Balance per Bank$1,700Add: Deposits in Transit425Subtotal$2,125Deduct: Outstanding Cheques350Adjusted Bank Balance$1,775Balance per Books$1,905Deduct: NSF Cheque$105Bank Service Charge25130Adjusted Book Balance$1,775
12/17/17, 7'46 PM- ACCT 220 7983 Principles of Accounting I (2178) - UMUC Learning Management SystemFIB - 2Question 23 / 3 pointsOne January 2, 2016, Alpha Company purchased 10,000 shares of Bravo Company stock, as trading securities, for $10 per share.On July 3, 2016 the securities were trading on the open market for $12.50 per share. On December 31, 2016, the closing marketprice for these securities was $9.00 per share.What value should the trading securities be reported for Alpha Company's FY 2016balance sheet?
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View FeedbackFIB - 3Question 310 / 10 pointsAlpha Company sells goods to customers who use Worldwide Express nonbank credit cards.Credit card sales on July 15, 2016amounted to $20,000 and were subject to a 4.5% credit card company collection fee.Alpha Company collected payment fromWorldwide Express on July 21.What amounts should be recorded for the following accounts for the July 21 collection?1.Cash2.Sales3.Service Charge4.Accounts Receivable
12/17/17, 7'46 PM- ACCT 220 7983 Principles of Accounting I (2178) - UMUC Learning Management SystemPage 4 of 16…i=586298&ai=3855333&isInPopup=0&cfql=1&d2l_body_type=3&ou=252928Solution Notes:DateAccountsDebitCredit7/15/16Accounts Receivables20,000Sales20,0007/21/16Cash19,100Service Charges900Accounts Receivables20,000

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Managerial Accounting: The Cornerstone of Business Decision-Making
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Managerial Accounting: The Cornerstone of Business Decision-Making
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