For Each of the Following, Explain Whether the Issue Would

question 111

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 number 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. The sale had previously been recorded when shipped and was equal to the payment amount of $125.

---

Definitions:

Arousal

A physiological and psychological state of being awake, alert, and engaged, often characterized by increased heart rate and sensory alertness.

Emotional Reactions

Manifestations of feelings that occur in response to stimuli, emphasizing the variability and complexity of human emotions.

Unrelated Event

An occurrence that has no connection or relevance to the current context or situation being considered or discussed.

Excitation Transfer Theory

A theory suggesting that arousal from one event can transfer to a subsequent event, amplifying the emotional response to the second event.