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# For Linda: Casey Companys bank statement shows a bank balance

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, Master's Degree
Satisfied Customers: 7291
Experience: A tutor for Business, Finance, Accounts and other related topics.
Customer: replied 4 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 4 years ago.

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 4 years ago.
thank you.

You are welcome.

Regards

Linda

Customer: replied 4 years ago.
ok
Customer: replied 4 years ago.
Customer: replied 4 years ago.
I have no other information.
thanks.
Customer: replied 4 years ago.
Customer: replied 4 years ago.
Relist: Other.
I need the answer to the last question, I asked last night 2/1/12
Customer: replied 4 years ago.
Relist: Other.
I need the answer to the last question, I asked last night 2/1/12
do not reply to this post.

Thank you

Linda
Customer: replied 4 years ago.
Looking for the answer to the question, on the 2/14/12 today
Yes I will post it soon.
Customer: replied 4 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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