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linda_us, Master's Degree
Category: Business and Finance Homework
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For Linda: Casey Companys bank statement shows a bank balance

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For Linda: Casey Company's bank statement shows a bank balance of $43,267. the statement shows a bank service charge of $50 and a bank collection of $760 in Casey's Comany's behalf. Casey's book balance should be adjusted by a total of., A.+$810., B. $+710., C.+$760., D. -$710., New question: Tammy industries inadvertently debited a $5,000 betterment as an ordinary expense. Which of the following will occur as a result of this mistake?, A. the asset will be understated by $5,000. B.the asset will be overstated by $5,000. C. retained earnings will be overstated by $5,000. D.net income will be overstated by $5,000.

I am working on this.

 

Regards

 

Linda

Casey Company's bank statement shows a bank balance of $43,267. the statement shows a bank service charge of $50 and a bank collection of $760 in Casey's Comany's behalf. Casey's book balance should be adjusted by a total of., A.+$810., B. $+710., C.+$760., D. -$710.,

 

+Balance to be adjusted = 760-50 = $710

 

So correct option is B 710

 

New question: Tammy industries inadvertently debited a $5,000 betterment as an ordinary expense. Which of the following will occur as a result of this mistake?,

A. the asset will be understated by $5,000.

B.the asset will be overstated by $5,000.

C. retained earnings will be overstated by $5,000.

D.net income will be overstated by $5,000.

 

Betterment increases the asset value whereas expenses would decrease the net income and retained earning. Since the mistake is made so

 

So the correct choice is A. the asset will be understated by $5,000.

 

Regards

 

Linda

linda_us and other Business and Finance Homework Specialists are ready to help you
Customer: replied 5 years ago.
i,am very satisfied with my expert.
Thank you so much..It feels wonderful to be able to help anyone.
You are an excellent customer. All the best.

Cheers

Linda
Customer: replied 5 years ago.
i dont have any more information

Your new question is posted in the category in which I am not an expert. Please post ypur question in Homework or Business category.

 

Regards

 

Linda

Your new question is posted in the category in which I am not an expert. Please post ypur question in Homework or Business category.

 

Regards

 

Linda

Customer: replied 5 years ago.
thank you.

You are welcome.

 

 

Please do reply to this post.

 

Regards

 

Linda

Customer: replied 5 years ago.
I dont have any more information about this question.
Customer: replied 5 years ago.
I dont have any more information on this queastion.
Please do not reply to this post. I do not need any more information.
Customer: replied 5 years ago.
I have no other information.
thanks.
Customer: replied 5 years ago.
i dont have any more information.
Customer: replied 5 years ago.
Relist: Other.
I need the answer to the last question, I asked last night 2/1/12
Customer: replied 5 years ago.
Relist: Other.
I need the answer to the last question, I asked last night 2/1/12
I have answered the other question please click here for link
do not reply to this post.

Thank you

Linda
Customer: replied 5 years ago.
Looking for the answer to the question, on the 2/14/12 today
Yes I will post it soon.
Customer: replied 5 years ago.
thanks for all your truble with this question. I,am willing to pay a bonus, i hope that you can help me ,let me here from you, i ask this queastion before a penn foster question #061689, I lost the answers, could you send the answers agan please, for Linda:Only.

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