The Following Information Pertains to the Bank Transactions of Rawlins

question 89

Essay

The following information pertains to the bank transactions of Rawlins Company:
a. Cash on the books as of April 30 was $499.Cash as shown on the bank statement for the same date was $1,330.
b. A deposit of $160,representing cash receipts as of April 30,did not apppear on the bank statement.
c. Outstanding checks totaled $240.
d. Bank service charges for April amounted to $9
e. The bank collected for Rawlins Company $840 (which includes $40 interest)on a note left for collection.
f. An NSF check for $80 from a customer,Joe Beck,was returned with the statement.
Required:
1. Prepare a bank reconciliation for Rawlins Company as of April 30.
2. State the amount of cash that would appear on the balance sheet as of April 30.

---

Definitions:

Total Cost

The complete sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Output

the total amount of goods or services produced by a company, industry, or economy in a given period.

Average Variable Cost (AVC)

The total variable costs divided by the quantity of output produced, representing the variable cost per unit of output.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit of a good changes as the production volume changes.