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linda_us
linda_us, Master's Degree
Category: Business and Finance Homework
Satisfied Customers: 7107
Experience:  A tutor for Business, Finance, Accounts and other related topics.
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For Linda: Casey Companys bank statement shows a bank balance

Resolved Question:

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.
Submitted: 2 years ago.
Category: Business and Finance Homework
Expert:  linda_us replied 2 years ago.

I am working on this.

 

Regards

 

Linda

Expert:  linda_us replied 2 years ago.

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: 7107
Experience: A tutor for Business, Finance, Accounts and other related topics.
linda_us and other Business and Finance Homework Specialists are ready to help you
Customer: replied 2 years ago.
i,am very satisfied with my expert.
Expert:  linda_us replied 2 years ago.
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 2 years ago.
i dont have any more information
Expert:  linda_us replied 2 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

Expert:  linda_us replied 2 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

Customer: replied 2 years ago.
thank you.
Expert:  linda_us replied 2 years ago.

You are welcome.

 

 

Please do reply to this post.

 

Regards

 

Linda

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

Thank you

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