[jeff]

I’ve had a few requests for April/May Study Groups…March will be here before you know it.

In order to take an early April exam, you should begin studying…now. 🙂

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[jrosen92770]

$1,235?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[jrosen92770]

If your book balance at 3/31 is $100k and you have the following:

Deposit in Transit $25k

Outstanding checks of $10k

An NSF of $300 returned by the bak on 4/2 but deducted on 3/30

A debit memo for check charges of $25

What should be your bank balance be at 3/31

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[NJPRU]

I got: 114,675

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

I got $84,675

[jrosen92770]

I show $84,675 ($100k-$25k+$10k-$300-$25)

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[NJPRU]

welp. i reversed the 25 and 10.

glad to know i can't get cash right. lol

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

@NJPRU–You have to subtract 25K from the book balance to get to the current bank balance because the money hasn't hit the bank yet and you have to add 10K to the book balance because those checks haven't been deducted from the bank yet.

[jrosen92770]

NJ – Anything goes here, when the exam comes, WE WILL be ready.

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[NJPRU]

I double questioned myself. I thought I was right and then switched it last minute. I have to learn not to do that.

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[Anonymous]

🙂 I've done too many bank recs over the last 8 years. Please please please AICPA Gods–give me at least one on the test. I'll trade it for anything having to do with Stockholder's Equity!

[Anonymous]

OK–No looking at notes. What are the JE accounts to issue a bond sold at a premium? Debits or Credits?

[NJPRU]

Cash (DR)

Bond Payable (CR)

Premium on Bond (CR)

AUD: DONE
FAR: DONE
BEC: DONE
REG: DONE

IM GOING TO BE A CPA!!!!!

[jrosen92770]

Name the 2 fundamental qualitative characteristics of Financial Reporting. Also which one requires free from bias?

BEC - 5/26/2013 75
REG - 8/31/2013 82
AUD - 11/24/2013 74, 2/9/2014 92
FAR - 5/25/2014 85

NY CPA

[Anonymous]

You got it!

If a company issues a bond at 105 with a face value of 100,000, a stated rate of 5%, and a market rate of 4%–show me the first line of the amortization table with titles.

[Anonymous]

Added: Paying interest every six months.

[Author]

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