Helpme 1. At the Longbridge Early Childhood Institution, the principalhad to make a school bank lodgement at the bank on aspecific time and day. Due to the pandemic, the wait timeat the bank was very lengthy. She was very timid and keptlooking around because of the amount of cash she wascarrying.A) State THREE (3) disadvantages of carrying out such action.B) Create FIVE (5) financial policies to govern the safehandling of monies for lodgement.

Cash is very important for business and life but should have minimum cash because of risk involved…

Answered: 1. At the Longbridge Early Childhood…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Identity Theft Resource Center (ITRC) provides consumer and victim support, public education, and advice. Marlena's grandmother is concerned her identity has been stolen. Help Marlena reconcile her grandmother's checkbook and bank statement. The checkbook reflects a balance of $1,425. The bank statement shows a balance of $363. Notes collected were $220 and $330. The bank charged a $85 service fee. Outstanding checks were No. 255, $1,165; No. 261, $437; and No. 262, $705. There is a deposit in transit of $3,834. Prepare your bank reconciliation. Checkbook balance Add: Notes collected Subtotal Deduct: Service fee Reconciled balance $ $ GA BANK RECONCILIATION 1,440 570 2,010.00 90 $ $ $ 376 3,933 4,309 1,920
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You are reviewing the account balances on the balance sheet in QBO at the end of January 20x1. The balance on the balance sheet for the checking account seems low to you. You know that you have personally taken all the checks and cash to the bank and deposited them with the bank. Based on the partial balance sheet below, what might be a reason your checking account balance in QBO appears low? Teacher feedback: Look at the scenario again, is there something within QBO that perhaps the accountant thought they did but really didn't. Ask your self if the person said all the checks were taken to the bank, why are there undeposited funds? How do you fix that?
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Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2020 using the information below.Please refer to the image attached Additionally, take the following information into account. On June 30th, there were two outstanding checks: #595 for $238 and #604 for $297. Premier Bank made a posting error to the bank statement: Check #603 was issued for $425, not $452. The deposit made on June 20 was for $125, which Natalie received for teaching a class. Natalie made an error in recording this transaction. The electronic funds transfer (EFT) was for Natalie’s cell phone use. Remember that she uses this phone only for business. The NSF check was from Ron Black. Natalie received this check for teaching a class to Ron’s…
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6. Austin's bank has a $45 overdraft fee. On Friday morning Austin had $345.78 in his checking account. Friday night a payment to AT&T was automatically withdrawn from his account in the amount of $210.15. Over the weekend Austin withdrew $100 cash and made purchases with his debit card in the amounts of $65.34, $24.99, $6.75 and $42.87. What was Austin's balance on Monday morning? ASUS

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