Curate Company assembled the following information in completing its May bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books Use the following tabular analysis to determine the required adjustments to Curate's accounts: Bal 13,224 May 20 Adj Bal Assets Accounts Rec $13,224 2,480 4,000 256 80 15,080 Liabilities + Accounts Payable Common Steck Decrease Accounts Receivable by $256. Decrease Cash by $2,480. Increase Expense by $336. Increase Expenses by $80. Stockholders' Equity Revenue- Expenses
Curate Company assembled the following information in completing its May bank reconciliation: Balance per bank Outstanding checks Deposits in transit NSF check Bank service charges Cash balance per books Use the following tabular analysis to determine the required adjustments to Curate's accounts: Bal 13,224 May 20 Adj Bal Assets Accounts Rec $13,224 2,480 4,000 256 80 15,080 Liabilities + Accounts Payable Common Steck Decrease Accounts Receivable by $256. Decrease Cash by $2,480. Increase Expense by $336. Increase Expenses by $80. Stockholders' Equity Revenue- Expenses
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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