Langer Company Bank Reconciliation Per 31 December 2017
Langer Company Bank Reconciliation Per 31 December 2017
Langer Company Bank Reconciliation Per 31 December 2017
D
2. B
3. C
4. B
5. B
TF
1. False. Specific identification is used when a company is dealing with singular, unique, and more
expensive items
2. True
3. True
4. False. In order to find total manufacturing cost, the ending work in progress should also be
deducted
5. False, like number 1
6. True
7. False. Retained earnings are the earnings that are not distributed to stockholder
8. False, the book value per share will not decrease.
9. True
10. False, retained earnings represent the income available for uses other than to give to
stockholder
Essay
LANGER COMPANY
Bank Reconciliation
3470 $720.10
3474 $1,050
3478 $621.30
3481 $807.40
3484 $798
3486 $889.50 ($4,886.3)
Journals
1. Cash $5,145
Collection Fee $15
Interest Revenue $160
Notes Receivable $5000
3. Account Receivable $9
Cash $9