SlideShare a Scribd company logo
1 of 3
Download to read offline
Assignment #2
Problem #1
The following selected transactions were completed during June
between Frank Company and Johnson
Company:
1. June 6 – Frank Company sold merchandise on account to
Johnson Company, $15,000, terms FOB
destination, 1/15, n/eom. The cost of the merchandise sold was
$12,000.
2. June 6 – Frank Company paid transportations costs of$ 100
for delivery of merchandise sold to
Johnson Company on June 8.
3. June 12 – Johnson Company returned $4,000 of merchandise
purchased on account on June 6th
from Frank Company. The cost of the merchandise returned was
$3,000.
4. June 20 – Johnson Company paid Frank Company for the
purchase of June 8th, less discount and
less return of June 12th.
Instructions:
Illustrate the effects of each of the preceding transactions on the
balance sheets of (1) Frank Company
and (2) Johnson Company. Identify each transaction by date.
Problem #2
The cash account for Leisure Systems at Feb 29 2012, indicated
a balance of $4,720. The bank statement
indicated a balance of $18,650 on Feb 29, 2012. Comparing the
bank statements and accompanying
cancelled checks and memos with records reveals the following
reconciling items:
1. Checks outstanding totaled $13,960.
2. Deposits of $9,350 representing receipts of February 29 had
been made too late to appear on the
bank statement.
3. The bank had collected $ 8,560 on a note left for collection.
The face of the note was $8,000.
4. Bank service charge for February amounted $50.
5. A check drawn for $930 had been incorrectly charged by the
bank as $390
6. A check for $520 had been incorrectly recorded by Leisure
Systems as $790.The check had been for
payment for supplies from Taft Co on account (actual amount
owed was in fact $790).
Instructions:
1. Prepare the bank reconciliation.
2. Illustrate the effects on the accounts and financial statements
of the bank reconciliation.

More Related Content

Similar to Assignment #2 problem #1the following selected transactio

AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx
AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docxAWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx
AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docxikirkton
 
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docxWeek One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docxalanfhall8953
 
Uop acc-291-week-3-practice-connect-practice-assignment-new
Uop acc-291-week-3-practice-connect-practice-assignment-newUop acc-291-week-3-practice-connect-practice-assignment-new
Uop acc-291-week-3-practice-connect-practice-assignment-newindi7257
 
ProblemIssuance of stock organization costs. Snowbound Corporat.docx
ProblemIssuance of stock organization costs. Snowbound Corporat.docxProblemIssuance of stock organization costs. Snowbound Corporat.docx
ProblemIssuance of stock organization costs. Snowbound Corporat.docxbriancrawford30935
 
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docx
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docxWeek Four Exercise AssignmentLiability1. Payroll accounting. A.docx
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docxalanfhall8953
 
1. Recognition of normal balances The following items appeared i.docx
1. Recognition of normal balances The following items appeared i.docx1. Recognition of normal balances The following items appeared i.docx
1. Recognition of normal balances The following items appeared i.docxmansonagnus
 
Basic Accounting Equations1. Recognition of normal balance.docx
Basic Accounting Equations1. Recognition of normal balance.docxBasic Accounting Equations1. Recognition of normal balance.docx
Basic Accounting Equations1. Recognition of normal balance.docxgarnerangelika
 
. Basic transaction processing. On November 1 of the current.docx
. Basic transaction processing. On November 1 of the current.docx. Basic transaction processing. On November 1 of the current.docx
. Basic transaction processing. On November 1 of the current.docxmarilynnhoare
 
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docx
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docxWeek Two Exercise AssignmentRevenue and Expenses1. Recognition.docx
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docxalanfhall8953
 
Acc 205 week 4 exercise assignment liability new
Acc 205 week 4 exercise assignment liability   newAcc 205 week 4 exercise assignment liability   new
Acc 205 week 4 exercise assignment liability newENTIRE COURSES FINAL EXAM
 
BWeek One Exercise AssignmentBasic Accounting Equations1.docx
BWeek One Exercise AssignmentBasic Accounting Equations1.docxBWeek One Exercise AssignmentBasic Accounting Equations1.docx
BWeek One Exercise AssignmentBasic Accounting Equations1.docxhumphrieskalyn
 
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docx
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docxInstructions1. Prepare a bank reconciliation.2. Journalize the n.docx
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docxaltheaboyer
 
Bank reconciliation and entries The cash account for Stone Systems at.pdf
Bank reconciliation and entries The cash account for Stone Systems at.pdfBank reconciliation and entries The cash account for Stone Systems at.pdf
Bank reconciliation and entries The cash account for Stone Systems at.pdftheyellowgold
 
Accounting for Receivables Lecture PPT.pptx
Accounting for Receivables Lecture PPT.pptxAccounting for Receivables Lecture PPT.pptx
Accounting for Receivables Lecture PPT.pptxjuweldba
 
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docxAWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docxikirkton
 
The following selected account balances were taken from the .docx
The following selected account balances were taken from the .docxThe following selected account balances were taken from the .docx
The following selected account balances were taken from the .docxoreo10
 
Acc300 final exam score 90%
Acc300 final exam score 90%Acc300 final exam score 90%
Acc300 final exam score 90%homeworkecrater
 

Similar to Assignment #2 problem #1the following selected transactio (20)

Acc2051 5
Acc2051 5Acc2051 5
Acc2051 5
 
AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx
AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docxAWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx
AWeek One Exercise AssignmentBasic Accounting Equations1.Recog.docx
 
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docxWeek One Exercise AssignmentBasic Accounting Equations1. Basic.docx
Week One Exercise AssignmentBasic Accounting Equations1. Basic.docx
 
Uop acc-291-week-3-practice-connect-practice-assignment-new
Uop acc-291-week-3-practice-connect-practice-assignment-newUop acc-291-week-3-practice-connect-practice-assignment-new
Uop acc-291-week-3-practice-connect-practice-assignment-new
 
ProblemIssuance of stock organization costs. Snowbound Corporat.docx
ProblemIssuance of stock organization costs. Snowbound Corporat.docxProblemIssuance of stock organization costs. Snowbound Corporat.docx
ProblemIssuance of stock organization costs. Snowbound Corporat.docx
 
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docx
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docxWeek Four Exercise AssignmentLiability1. Payroll accounting. A.docx
Week Four Exercise AssignmentLiability1. Payroll accounting. A.docx
 
1. Recognition of normal balances The following items appeared i.docx
1. Recognition of normal balances The following items appeared i.docx1. Recognition of normal balances The following items appeared i.docx
1. Recognition of normal balances The following items appeared i.docx
 
Basic Accounting Equations1. Recognition of normal balance.docx
Basic Accounting Equations1. Recognition of normal balance.docxBasic Accounting Equations1. Recognition of normal balance.docx
Basic Accounting Equations1. Recognition of normal balance.docx
 
. Basic transaction processing. On November 1 of the current.docx
. Basic transaction processing. On November 1 of the current.docx. Basic transaction processing. On November 1 of the current.docx
. Basic transaction processing. On November 1 of the current.docx
 
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docx
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docxWeek Two Exercise AssignmentRevenue and Expenses1. Recognition.docx
Week Two Exercise AssignmentRevenue and Expenses1. Recognition.docx
 
Acc 205 week 4 exercise assignment liability new
Acc 205 week 4 exercise assignment liability   newAcc 205 week 4 exercise assignment liability   new
Acc 205 week 4 exercise assignment liability new
 
BWeek One Exercise AssignmentBasic Accounting Equations1.docx
BWeek One Exercise AssignmentBasic Accounting Equations1.docxBWeek One Exercise AssignmentBasic Accounting Equations1.docx
BWeek One Exercise AssignmentBasic Accounting Equations1.docx
 
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docx
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docxInstructions1. Prepare a bank reconciliation.2. Journalize the n.docx
Instructions1. Prepare a bank reconciliation.2. Journalize the n.docx
 
Bank reconciliation and entries The cash account for Stone Systems at.pdf
Bank reconciliation and entries The cash account for Stone Systems at.pdfBank reconciliation and entries The cash account for Stone Systems at.pdf
Bank reconciliation and entries The cash account for Stone Systems at.pdf
 
Accounting for Receivables Lecture PPT.pptx
Accounting for Receivables Lecture PPT.pptxAccounting for Receivables Lecture PPT.pptx
Accounting for Receivables Lecture PPT.pptx
 
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docxAWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx
AWeek Five Exercise AssignmentFinancial Ratios1. Liquidity r.docx
 
The following selected account balances were taken from the .docx
The following selected account balances were taken from the .docxThe following selected account balances were taken from the .docx
The following selected account balances were taken from the .docx
 
Acc300 final exam score 90%
Acc300 final exam score 90%Acc300 final exam score 90%
Acc300 final exam score 90%
 
exam ch 7.pdf
exam ch 7.pdfexam ch 7.pdf
exam ch 7.pdf
 
exam ch 7.doc
exam ch 7.docexam ch 7.doc
exam ch 7.doc
 

More from sodhi3

A brief description of your employment historyYour career .docx
A brief description of your employment historyYour career .docxA brief description of your employment historyYour career .docx
A brief description of your employment historyYour career .docxsodhi3
 
A budget is a plan expressed in dollar amounts that acts as a ro.docx
A budget is a plan expressed in dollar amounts that acts as a ro.docxA budget is a plan expressed in dollar amounts that acts as a ro.docx
A budget is a plan expressed in dollar amounts that acts as a ro.docxsodhi3
 
A 72-year-old male with a past medical history for hypertension, con.docx
A 72-year-old male with a past medical history for hypertension, con.docxA 72-year-old male with a past medical history for hypertension, con.docx
A 72-year-old male with a past medical history for hypertension, con.docxsodhi3
 
a able aboutaccomplishaccomplishmentachieveachieving.docx
a able aboutaccomplishaccomplishmentachieveachieving.docxa able aboutaccomplishaccomplishmentachieveachieving.docx
a able aboutaccomplishaccomplishmentachieveachieving.docxsodhi3
 
a brief explanation of the effect of Apartheid in South Africa. Prov.docx
a brief explanation of the effect of Apartheid in South Africa. Prov.docxa brief explanation of the effect of Apartheid in South Africa. Prov.docx
a brief explanation of the effect of Apartheid in South Africa. Prov.docxsodhi3
 
A 32-year-old female presents to the ED with a chief complaint of fe.docx
A 32-year-old female presents to the ED with a chief complaint of fe.docxA 32-year-old female presents to the ED with a chief complaint of fe.docx
A 32-year-old female presents to the ED with a chief complaint of fe.docxsodhi3
 
A 4 years old is brought to the clinic by his parents with abdominal.docx
A 4 years old is brought to the clinic by his parents with abdominal.docxA 4 years old is brought to the clinic by his parents with abdominal.docx
A 4 years old is brought to the clinic by his parents with abdominal.docxsodhi3
 
A 19-year-old male complains of burning sometimes, when I pee.”.docx
A 19-year-old male complains of burning sometimes, when I pee.”.docxA 19-year-old male complains of burning sometimes, when I pee.”.docx
A 19-year-old male complains of burning sometimes, when I pee.”.docxsodhi3
 
A 34-year-old trauma victim, the Victor, is unconscious and on a.docx
A 34-year-old trauma victim, the Victor, is unconscious and on a.docxA 34-year-old trauma victim, the Victor, is unconscious and on a.docx
A 34-year-old trauma victim, the Victor, is unconscious and on a.docxsodhi3
 
A 27-year-old Vietnamese woman in the delivery room with very st.docx
A 27-year-old Vietnamese woman in the delivery room with very st.docxA 27-year-old Vietnamese woman in the delivery room with very st.docx
A 27-year-old Vietnamese woman in the delivery room with very st.docxsodhi3
 
A 25 year old male presents with chronic sinusitis and allergic .docx
A 25 year old male presents with chronic sinusitis and allergic .docxA 25 year old male presents with chronic sinusitis and allergic .docx
A 25 year old male presents with chronic sinusitis and allergic .docxsodhi3
 
A 500-700 word APA formatted PaperInclude 2 sources on your re.docx
A 500-700 word APA formatted PaperInclude 2 sources on your re.docxA 500-700 word APA formatted PaperInclude 2 sources on your re.docx
A 500-700 word APA formatted PaperInclude 2 sources on your re.docxsodhi3
 
A 65-year-old obese African American male patient presents to his HC.docx
A 65-year-old obese African American male patient presents to his HC.docxA 65-year-old obese African American male patient presents to his HC.docx
A 65-year-old obese African American male patient presents to his HC.docxsodhi3
 
A 5-year-old male is brought to the primary care clinic by his m.docx
A 5-year-old male is brought to the primary care clinic by his m.docxA 5-year-old male is brought to the primary care clinic by his m.docx
A 5-year-old male is brought to the primary care clinic by his m.docxsodhi3
 
92 S C I E N T I F I C A M E R I C A N R e p r i n t e d f r.docx
92 S C I E N T I F I C  A M E R I C A N R e p r i n t e d  f r.docx92 S C I E N T I F I C  A M E R I C A N R e p r i n t e d  f r.docx
92 S C I E N T I F I C A M E R I C A N R e p r i n t e d f r.docxsodhi3
 
a 100 words to respond to each question. Please be sure to add a que.docx
a 100 words to respond to each question. Please be sure to add a que.docxa 100 words to respond to each question. Please be sure to add a que.docx
a 100 words to respond to each question. Please be sure to add a que.docxsodhi3
 
A 12,000 word final dissertation for Masters in Education project. .docx
A 12,000 word final dissertation for Masters in Education project. .docxA 12,000 word final dissertation for Masters in Education project. .docx
A 12,000 word final dissertation for Masters in Education project. .docxsodhi3
 
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docxsodhi3
 
915Rising Up from a Sea of DiscontentThe 1970 Koza.docx
915Rising Up from a Sea of DiscontentThe 1970 Koza.docx915Rising Up from a Sea of DiscontentThe 1970 Koza.docx
915Rising Up from a Sea of DiscontentThe 1970 Koza.docxsodhi3
 
96 Young Scholars in WritingFeminist Figures or Damsel.docx
96    Young Scholars in WritingFeminist Figures or Damsel.docx96    Young Scholars in WritingFeminist Figures or Damsel.docx
96 Young Scholars in WritingFeminist Figures or Damsel.docxsodhi3
 

More from sodhi3 (20)

A brief description of your employment historyYour career .docx
A brief description of your employment historyYour career .docxA brief description of your employment historyYour career .docx
A brief description of your employment historyYour career .docx
 
A budget is a plan expressed in dollar amounts that acts as a ro.docx
A budget is a plan expressed in dollar amounts that acts as a ro.docxA budget is a plan expressed in dollar amounts that acts as a ro.docx
A budget is a plan expressed in dollar amounts that acts as a ro.docx
 
A 72-year-old male with a past medical history for hypertension, con.docx
A 72-year-old male with a past medical history for hypertension, con.docxA 72-year-old male with a past medical history for hypertension, con.docx
A 72-year-old male with a past medical history for hypertension, con.docx
 
a able aboutaccomplishaccomplishmentachieveachieving.docx
a able aboutaccomplishaccomplishmentachieveachieving.docxa able aboutaccomplishaccomplishmentachieveachieving.docx
a able aboutaccomplishaccomplishmentachieveachieving.docx
 
a brief explanation of the effect of Apartheid in South Africa. Prov.docx
a brief explanation of the effect of Apartheid in South Africa. Prov.docxa brief explanation of the effect of Apartheid in South Africa. Prov.docx
a brief explanation of the effect of Apartheid in South Africa. Prov.docx
 
A 32-year-old female presents to the ED with a chief complaint of fe.docx
A 32-year-old female presents to the ED with a chief complaint of fe.docxA 32-year-old female presents to the ED with a chief complaint of fe.docx
A 32-year-old female presents to the ED with a chief complaint of fe.docx
 
A 4 years old is brought to the clinic by his parents with abdominal.docx
A 4 years old is brought to the clinic by his parents with abdominal.docxA 4 years old is brought to the clinic by his parents with abdominal.docx
A 4 years old is brought to the clinic by his parents with abdominal.docx
 
A 19-year-old male complains of burning sometimes, when I pee.”.docx
A 19-year-old male complains of burning sometimes, when I pee.”.docxA 19-year-old male complains of burning sometimes, when I pee.”.docx
A 19-year-old male complains of burning sometimes, when I pee.”.docx
 
A 34-year-old trauma victim, the Victor, is unconscious and on a.docx
A 34-year-old trauma victim, the Victor, is unconscious and on a.docxA 34-year-old trauma victim, the Victor, is unconscious and on a.docx
A 34-year-old trauma victim, the Victor, is unconscious and on a.docx
 
A 27-year-old Vietnamese woman in the delivery room with very st.docx
A 27-year-old Vietnamese woman in the delivery room with very st.docxA 27-year-old Vietnamese woman in the delivery room with very st.docx
A 27-year-old Vietnamese woman in the delivery room with very st.docx
 
A 25 year old male presents with chronic sinusitis and allergic .docx
A 25 year old male presents with chronic sinusitis and allergic .docxA 25 year old male presents with chronic sinusitis and allergic .docx
A 25 year old male presents with chronic sinusitis and allergic .docx
 
A 500-700 word APA formatted PaperInclude 2 sources on your re.docx
A 500-700 word APA formatted PaperInclude 2 sources on your re.docxA 500-700 word APA formatted PaperInclude 2 sources on your re.docx
A 500-700 word APA formatted PaperInclude 2 sources on your re.docx
 
A 65-year-old obese African American male patient presents to his HC.docx
A 65-year-old obese African American male patient presents to his HC.docxA 65-year-old obese African American male patient presents to his HC.docx
A 65-year-old obese African American male patient presents to his HC.docx
 
A 5-year-old male is brought to the primary care clinic by his m.docx
A 5-year-old male is brought to the primary care clinic by his m.docxA 5-year-old male is brought to the primary care clinic by his m.docx
A 5-year-old male is brought to the primary care clinic by his m.docx
 
92 S C I E N T I F I C A M E R I C A N R e p r i n t e d f r.docx
92 S C I E N T I F I C  A M E R I C A N R e p r i n t e d  f r.docx92 S C I E N T I F I C  A M E R I C A N R e p r i n t e d  f r.docx
92 S C I E N T I F I C A M E R I C A N R e p r i n t e d f r.docx
 
a 100 words to respond to each question. Please be sure to add a que.docx
a 100 words to respond to each question. Please be sure to add a que.docxa 100 words to respond to each question. Please be sure to add a que.docx
a 100 words to respond to each question. Please be sure to add a que.docx
 
A 12,000 word final dissertation for Masters in Education project. .docx
A 12,000 word final dissertation for Masters in Education project. .docxA 12,000 word final dissertation for Masters in Education project. .docx
A 12,000 word final dissertation for Masters in Education project. .docx
 
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx
918191ISMM1-UC 752SYSTEMS ANALYSISFall 2019 –.docx
 
915Rising Up from a Sea of DiscontentThe 1970 Koza.docx
915Rising Up from a Sea of DiscontentThe 1970 Koza.docx915Rising Up from a Sea of DiscontentThe 1970 Koza.docx
915Rising Up from a Sea of DiscontentThe 1970 Koza.docx
 
96 Young Scholars in WritingFeminist Figures or Damsel.docx
96    Young Scholars in WritingFeminist Figures or Damsel.docx96    Young Scholars in WritingFeminist Figures or Damsel.docx
96 Young Scholars in WritingFeminist Figures or Damsel.docx
 

Recently uploaded

4.4.24 Economic Precarity and Global Economic Forces.pptx
4.4.24 Economic Precarity and Global Economic Forces.pptx4.4.24 Economic Precarity and Global Economic Forces.pptx
4.4.24 Economic Precarity and Global Economic Forces.pptxmary850239
 
Scientific Writing :Research Discourse
Scientific  Writing :Research  DiscourseScientific  Writing :Research  Discourse
Scientific Writing :Research DiscourseAnita GoswamiGiri
 
Objectives n learning outcoms - MD 20240404.pptx
Objectives n learning outcoms - MD 20240404.pptxObjectives n learning outcoms - MD 20240404.pptx
Objectives n learning outcoms - MD 20240404.pptxMadhavi Dharankar
 
CLASSIFICATION OF ANTI - CANCER DRUGS.pptx
CLASSIFICATION OF ANTI - CANCER DRUGS.pptxCLASSIFICATION OF ANTI - CANCER DRUGS.pptx
CLASSIFICATION OF ANTI - CANCER DRUGS.pptxAnupam32727
 
Unit :1 Basics of Professional Intelligence
Unit :1 Basics of Professional IntelligenceUnit :1 Basics of Professional Intelligence
Unit :1 Basics of Professional IntelligenceDr Vijay Vishwakarma
 
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptx
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptxSTRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptx
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptxkimdan468
 
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...Nguyen Thanh Tu Collection
 
The Shop Floor Overview in the Odoo 17 ERP
The Shop Floor Overview in the Odoo 17 ERPThe Shop Floor Overview in the Odoo 17 ERP
The Shop Floor Overview in the Odoo 17 ERPCeline George
 
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...Osopher
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...Nguyen Thanh Tu Collection
 
4.9.24 School Desegregation in Boston.pptx
4.9.24 School Desegregation in Boston.pptx4.9.24 School Desegregation in Boston.pptx
4.9.24 School Desegregation in Boston.pptxmary850239
 
Sulphonamides, mechanisms and their uses
Sulphonamides, mechanisms and their usesSulphonamides, mechanisms and their uses
Sulphonamides, mechanisms and their usesVijayaLaxmi84
 
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptx
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptxBBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptx
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptxProf. Kanchan Kumari
 
Sarah Lahm In Media Res Media Component
Sarah Lahm  In Media Res Media ComponentSarah Lahm  In Media Res Media Component
Sarah Lahm In Media Res Media ComponentInMediaRes1
 
Jason Potel In Media Res Media Component
Jason Potel In Media Res Media ComponentJason Potel In Media Res Media Component
Jason Potel In Media Res Media ComponentInMediaRes1
 
Grade Three -ELLNA-REVIEWER-ENGLISH.pptx
Grade Three -ELLNA-REVIEWER-ENGLISH.pptxGrade Three -ELLNA-REVIEWER-ENGLISH.pptx
Grade Three -ELLNA-REVIEWER-ENGLISH.pptxkarenfajardo43
 

Recently uploaded (20)

4.4.24 Economic Precarity and Global Economic Forces.pptx
4.4.24 Economic Precarity and Global Economic Forces.pptx4.4.24 Economic Precarity and Global Economic Forces.pptx
4.4.24 Economic Precarity and Global Economic Forces.pptx
 
Scientific Writing :Research Discourse
Scientific  Writing :Research  DiscourseScientific  Writing :Research  Discourse
Scientific Writing :Research Discourse
 
Objectives n learning outcoms - MD 20240404.pptx
Objectives n learning outcoms - MD 20240404.pptxObjectives n learning outcoms - MD 20240404.pptx
Objectives n learning outcoms - MD 20240404.pptx
 
Plagiarism,forms,understand about plagiarism,avoid plagiarism,key significanc...
Plagiarism,forms,understand about plagiarism,avoid plagiarism,key significanc...Plagiarism,forms,understand about plagiarism,avoid plagiarism,key significanc...
Plagiarism,forms,understand about plagiarism,avoid plagiarism,key significanc...
 
Israel Genealogy Research Assoc. April 2024 Database Release
Israel Genealogy Research Assoc. April 2024 Database ReleaseIsrael Genealogy Research Assoc. April 2024 Database Release
Israel Genealogy Research Assoc. April 2024 Database Release
 
CLASSIFICATION OF ANTI - CANCER DRUGS.pptx
CLASSIFICATION OF ANTI - CANCER DRUGS.pptxCLASSIFICATION OF ANTI - CANCER DRUGS.pptx
CLASSIFICATION OF ANTI - CANCER DRUGS.pptx
 
Unit :1 Basics of Professional Intelligence
Unit :1 Basics of Professional IntelligenceUnit :1 Basics of Professional Intelligence
Unit :1 Basics of Professional Intelligence
 
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptx
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptxSTRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptx
STRAND 1 FOUNDATION OF PRETECHNICALSTUDIE.pptx
 
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...
CHUYÊN ĐỀ ÔN THEO CÂU CHO HỌC SINH LỚP 12 ĐỂ ĐẠT ĐIỂM 5+ THI TỐT NGHIỆP THPT ...
 
The Shop Floor Overview in the Odoo 17 ERP
The Shop Floor Overview in the Odoo 17 ERPThe Shop Floor Overview in the Odoo 17 ERP
The Shop Floor Overview in the Odoo 17 ERP
 
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...
Healthy Minds, Flourishing Lives: A Philosophical Approach to Mental Health a...
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 - I-LEARN SMART WORLD - CẢ NĂM - CÓ FILE NGHE (BẢN...
 
Mattingly "AI & Prompt Design" - Introduction to Machine Learning"
Mattingly "AI & Prompt Design" - Introduction to Machine Learning"Mattingly "AI & Prompt Design" - Introduction to Machine Learning"
Mattingly "AI & Prompt Design" - Introduction to Machine Learning"
 
4.9.24 School Desegregation in Boston.pptx
4.9.24 School Desegregation in Boston.pptx4.9.24 School Desegregation in Boston.pptx
4.9.24 School Desegregation in Boston.pptx
 
Sulphonamides, mechanisms and their uses
Sulphonamides, mechanisms and their usesSulphonamides, mechanisms and their uses
Sulphonamides, mechanisms and their uses
 
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptx
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptxBBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptx
BBA 205 UNIT 3 INDUSTRIAL POLICY dr kanchan.pptx
 
Sarah Lahm In Media Res Media Component
Sarah Lahm  In Media Res Media ComponentSarah Lahm  In Media Res Media Component
Sarah Lahm In Media Res Media Component
 
Jason Potel In Media Res Media Component
Jason Potel In Media Res Media ComponentJason Potel In Media Res Media Component
Jason Potel In Media Res Media Component
 
Grade Three -ELLNA-REVIEWER-ENGLISH.pptx
Grade Three -ELLNA-REVIEWER-ENGLISH.pptxGrade Three -ELLNA-REVIEWER-ENGLISH.pptx
Grade Three -ELLNA-REVIEWER-ENGLISH.pptx
 
Chi-Square Test Non Parametric Test Categorical Variable
Chi-Square Test Non Parametric Test Categorical VariableChi-Square Test Non Parametric Test Categorical Variable
Chi-Square Test Non Parametric Test Categorical Variable
 

Assignment #2 problem #1the following selected transactio

  • 1. Assignment #2 Problem #1 The following selected transactions were completed during June between Frank Company and Johnson Company: 1. June 6 – Frank Company sold merchandise on account to Johnson Company, $15,000, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $12,000. 2. June 6 – Frank Company paid transportations costs of$ 100 for delivery of merchandise sold to Johnson Company on June 8. 3. June 12 – Johnson Company returned $4,000 of merchandise purchased on account on June 6th from Frank Company. The cost of the merchandise returned was $3,000. 4. June 20 – Johnson Company paid Frank Company for the purchase of June 8th, less discount and less return of June 12th. Instructions:
  • 2. Illustrate the effects of each of the preceding transactions on the balance sheets of (1) Frank Company and (2) Johnson Company. Identify each transaction by date. Problem #2 The cash account for Leisure Systems at Feb 29 2012, indicated a balance of $4,720. The bank statement indicated a balance of $18,650 on Feb 29, 2012. Comparing the bank statements and accompanying cancelled checks and memos with records reveals the following reconciling items: 1. Checks outstanding totaled $13,960. 2. Deposits of $9,350 representing receipts of February 29 had been made too late to appear on the bank statement. 3. The bank had collected $ 8,560 on a note left for collection. The face of the note was $8,000. 4. Bank service charge for February amounted $50. 5. A check drawn for $930 had been incorrectly charged by the bank as $390 6. A check for $520 had been incorrectly recorded by Leisure Systems as $790.The check had been for payment for supplies from Taft Co on account (actual amount owed was in fact $790).
  • 3. Instructions: 1. Prepare the bank reconciliation. 2. Illustrate the effects on the accounts and financial statements of the bank reconciliation.