Bank Reconciliation--Computation and Journal Entry

question 185

Essay

Bank reconciliation--computation and journal entry
The Cash account in the ledger of Arnaz Company showed a balance of $13,307 at March 31.
The bank statement, however, showed a balance of $9,936 at the same date. The only reconciling items consisted of a $4,902 deposit in transit, a bank service charge of $36, outstanding checks totaling $2,600, and an NSF check from L. Ball, one of Arnaz' customers.
(a) What is the amount of the adjusted cash balance on March 31?
(b) What is the amount of the NSF check?
(c) Record the journal entry necessary, if any, to adjust Arnaz Company's accounting records at March 31:

Recognize the importance of ethical training, a code of conduct, and mechanisms for reporting unethical behavior in organizations.

Identify the elements that might be included in a company's code of conduct.

Understand the purpose and components of social audits.

Recognize various approaches companies adopt to promote ethical behavior and social responsibility.

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Definitions:

Ethnic Identity

An individual's sense of belonging to a particular ethnic group, which can influence aspects of their social life and personal self-concept.

Identity Formation

The development of a distinct, stable sense of self through processes like exploration and commitment in various life domains.

Marcia's Categories

A framework for understanding identity development during adolescence, comprising four statuses: identity diffusion, foreclosure, moratorium, and achievement.

Sexual Minority Youth

Refers to young individuals who identify with a sexual orientation that falls outside the heterosexual norm, including but not limited to lesbian, gay, bisexual, and questioning/queer youth.