# The following T-account is a summary of the cash account of Kemper Company. [Solved]

Source(s): Accounting Fan

Something doesnt seem correct you say that clerk stole \$\$\$; therefore, you would expect the general ledger balance to be HIGHER than the reconciled bank balance (bank balance less outstanding checks plus deposits in transit). This assumes that the daily cash receipts are recorded in the general ledger by November 30, 2008 in this example. Rounded, reconciled bank balance is \$22K 6K = \$16K, but you say the general ledger balance is only \$12K. Double-check the question again and let me know; your fact pattern makes no sense given the fact that you want to know how much was stolen. RESPONSE TO NICK the fact pattern does NOT say that a note receivable was accepted in November in payment of a sale; I would agree with you IF it said that, but it did not!!! These accounting 101 questions are horribly worded!! I just wanted clarification as to the questionafter youve been a CPA for 20 years, THEN reread this question and see how terrible this reads!!!

Something doesnt seem correct you say that clerk stole \$\$\$; therefore, you would expect the general ledger balance to be HIGHER than the reconciled bank balance (bank balance less outstanding checks plus deposits in transit). This assumes that the daily cash receipts are recorded in the general ledger by November 30, 2008 in this example. Rounded, reconciled bank balance is \$22K 6K = \$16K, but you say the general ledger balance is only \$12K. Double-check the question again and let me know; your fact pattern makes no sense given the fact that you want to know how much was stolen. RESPONSE TO NICK the fact pattern does NOT say that a note receivable was accepted in November in payment of a sale; I would agree with you IF it said that, but it did not!!! These accounting 101 questions are horribly worded!! I just wanted clarification as to the questionafter youve been a CPA for 20 years, THEN reread this question and see how terrible this reads!!!

Get Answer for  Identify two goals of systematics. [Solved]

Source(s): Accounting Fan

Financing Activities
bonds payable
395,020
Dividends paid
63,790

Something doesnt seem correct you say that clerk stole \$\$\$; therefore, you would expect the general ledger balance to be HIGHER than the reconciled bank balance (bank balance less outstanding checks plus deposits in transit). This assumes that the daily cash receipts are recorded in the general ledger by November 30, 2008 in this example. Rounded, reconciled bank balance is \$22K 6K = \$16K, but you say the general ledger balance is only \$12K. Double-check the question again and let me know; your fact pattern makes no sense given the fact that you want to know how much was stolen. RESPONSE TO NICK the fact pattern does NOT say that a note receivable was accepted in November in payment of a sale; I would agree with you IF it said that, but it did not!!! These accounting 101 questions are horribly worded!! I just wanted clarification as to the questionafter youve been a CPA for 20 years, THEN reread this question and see how terrible this reads!!!

Financing Activities
bonds payable
395,020
Dividends paid
63,790

Something doesnt seem correct you say that clerk stole \$\$\$; therefore, you would expect the general ledger balance to be HIGHER than the reconciled bank balance (bank balance less outstanding checks plus deposits in transit). This assumes that the daily cash receipts are recorded in the general ledger by November 30, 2008 in this example. Rounded, reconciled bank balance is \$22K 6K = \$16K, but you say the general ledger balance is only \$12K. Double-check the question again and let me know; your fact pattern makes no sense given the fact that you want to know how much was stolen. RESPONSE TO NICK the fact pattern does NOT say that a note receivable was accepted in November in payment of a sale; I would agree with you IF it said that, but it did not!!! These accounting 101 questions are horribly worded!! I just wanted clarification as to the questionafter youve been a CPA for 20 years, THEN reread this question and see how terrible this reads!!!