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What is the proper bank balance arrived at when the bank reconciliation was completed

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1. Zee Company's cash account in their ledger has a debit balance of $1094. Zee has $162 of outstanding checks and $283 of deposits in transit. Zee's bank statement shows $36 in charges for checks bought from the bank. What is the proper bank balance arrived at when the bank reconciliation was completed?;2. Wellness Corp. has outstanding accounts receivable of $375978 as of December 31st and sales on credit during the year of $1087557. There is also a debit balance of $4283 in the allowance for doubtful accounts. In the company estimates that 4% of it's outstanding receivables will be uncollectible, what will the balance be in the allowance for doubtful accounts after the year end adjustment to record bad debt expense?;3. Wellness Corp. has outstanding accounts receivable of $107028 as of December 31st and sales on credit during the year of $1006254. There is also a debit balance of $5697 in the allowance for doubtful accounts. In the company estimates that 4% of it's net credit sales will be uncollectible, what will the balance be in the allowance for doubtful accounts after the year end adjustment to record bad debt expense?;4. Pool Company prepared an aging analysis of it's accounts receivable at December 31, 2015 and determined that the net realizable value of the receivables was $121469. The Allowance for doubtful accounts at the beginning of the year had a credit balance of $3293. Bad debt expense of $13796 was recorded during the year. Receivables of $1013 were written off during the year. What is gross accounts receivable at December 31st?

 

Paper#23841 | Written in 18-Jul-2015

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