Acompany received a bank statement with a balance of $ 6 comma 300. reconciling items included a bookkeeper error of $ 400long dasha $ 400 check recorded as $ 600long dashtwo outstanding checks totaling $ 820, a service charge of $ 22, a deposit in transit of $ 260, and interest revenue of $ 22. what is the adjusted bank balance?

In its first year of operations, sunland company recognized $30,000 in service revenue, $8,100 of which was on account and still outstanding at year-end. the remaining $21,900 was received in cash from customers. the company incurred operating expenses of $18,600. of these expenses, $12,880 were paid in cash; $5,720 was still owed on account at year-end. in addition, sunland prepaid $3,270 for insurance coverage that would not be used until the second year of operations. (a) calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.