The Bank Statement for Marley Co $\text { Assets = } \quad \text { Liabilities + Stockholders' Equity }$

question 88

Essay

The bank statement for Marley Co.indicates a cash balance of $10,000.50 on June 30, 2016.The cash account in Marley's records had a balance of $4,677.10.Illustrate the adjustments to the accounts and their effect on Marley's financial statements, based on the following reconciling items:
(a)Cash sales of $342 had been erroneously recorded in the cash receipts journal as $324.
(b)Deposits in transit not recorded by bank, $700.
(c)Bank debit memorandum for service charges, $30.
(d)Bank credit memorandum for note collected by bank, $2,050, including $50 interest.
(e)Bank debit memorandum for $207.40 NSF (not sufficient funds) check from Alice Martin, a customer.
(f)Checks outstanding, $4,192.80.
?
? $\text { Assets = } \quad \text { Liabilities + Stockholders' Equity }$
$$\begin{array} { | l | l | l | l | l | l | l | } \hline & \text { Cash } & \begin{array} { c } \text { Accounts } \\\text { Receivable }\end{array} & \begin{array} { c } \text { Notes } \\\text { Receivable }\end{array} & \begin{array} { c } \text { Accounts } \\\text { Payable }\end{array} & \begin{array} { c } \text { Capital } \\\text { Stock }\end{array} & \begin{array} { c } \text { Retained } \\\text { Earnings }\end{array} \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline\end{array}$$

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Definitions:

Self-awareness Theory

The concept that individuals gain insight into themselves by observing their own actions and the reactions of others, leading to a deeper understanding of their own behavior.

Attitudes

Mental inclinations manifested through showing a certain level of preference or aversion towards a specific entity.

Values

Fundamental beliefs or principles that guide individuals' behaviors and decision-making, reflecting what is important to them.

Goals

Cognitions that represent outcomes that we strive for in order to meet our needs and desires.