43 if a check correctly written and paid by the bank

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43. If a check correctly written and paid by the bank for $392 is incorrectly recordedin the company's books for $335, how should this error be treated on the bankreconciliation?A. Subtract $57 from the book balance.B. Subtract $57 from the bank's balance.C. Add $57 to the book balance.D. Subtract $57 from the bank's balance and add $57 to the book's balance.E. Add $57 to the bank's balance.$392 - $335 = $57 not enough deducted from the company's cash account balancethat must be subtracted from cash.
44. In the process of reconciling its bank statement for April, Donahue Enterprises'accountant compiles the following information:
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Cash balance per company books on April $ 6,270Deposits in transit at month-end $ 1,310Outstanding checks at month-end $ 630Bank charge for printing new checks $ 50Note receivable and interest collected by bank on Donahue’s behalf $ 760A check paid to Donahue during the month by a customer is returned by the bank asNSF $ 490The adjusted cash balance per the books on April 30 is:
45. Hull Company reported the following income statement information for 2015:Sales $410,000Cost of goods sold: $261,000Beginning inventory $132,000
Cost of goods purchases 273,000Cost of goods available for sale 405,000Ending inventory 144,000Cost of goods sold 261,000Gross profit $149,000The beginning inventory balance for Year 1 is correct. However, the ending inventoryfigure for Year 1 was overstated by $20,000. Given this information, the correct grossprofit figure for 2015 would be:
46. Subsidiary ledgers do all of the following except:
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Term
Fall
Professor
Kelly
Tags
Accounting, Balance Sheet, Generally Accepted Accounting Principles, Vander
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 16 / Exercise 2
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified

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