For Each of the Following, Explain Whether the Issue Would

question 120

Essay

For each of the following, explain whether the issue would require you to prepare a journal entry for your company, assuming any original entry is correct. If an entry is required, please include it as part of your answer.
(1) The bank recorded your deposit as $91 rather than the actual amount of $191.
(2) Two outstanding checks amounted to $450.
(3) Company Check No. 538 for postage was recorded incorrectly by the company bookkeeper as $50 instead of $59.
(4) The bank paid a check for $500 after the company had issued a stop payment and voided the check.
(5) An EFT deposit was made by one of the company's customers, Atlas Design, for merchandise received. Thesale had previously been recorded when shipped and was equal to the payment amount of $125.

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Definitions:

Pro-German Sympathies

Sentiments of support or favoritism towards Germany and its policies, particularly noted during the periods surrounding the World Wars.

Jeannette Rankin

The first woman ever elected to the United States Congress, serving as a Representative from Montana and a lifelong advocate for peace and women's rights.

Woman

An adult female human being.

Congress

is the legislative branch of the United States federal government, composed of two houses: the Senate and the House of Representatives.