The cash account for american medical co. at april 30 indicated a balance of $89,775. the bank statement indicated a balance of $125,160 on april 30. comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. checks outstanding totaled $31,540. b. a deposit of $18,000, representing receipts of april 30, had been made too late to appear on the bank statement. c. the bank collected $24,075 on a $22,500 note, including interest of $1,575. d. a check for $1,700 returned with the statement had been incorrectly recorded by american medical co. as $170. the check was for the payment of an obligation to targhee supply co. for a purchase on account. e. a check drawn for $290 had been erroneously charged by the bank as $920. f. bank service charges for april amounted to $70. instructions 1. prepare a bank reconciliation. refer to the amount descriptions list provided for the exact wording of the answer choices for tex

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.