In comparing the activity on the April bank statement with e…

In comparing the activity on the April bank statement with entries in the accounting records, it is found that a check received by a customer was deposited and properly credited by the bank in the amount of $4,726 but was recorded in the accounting records as $7,426. When preparing the April’s bank reconciliation, the company should:

The following balances were found on STANLEY Supplies Corpor…

The following balances were found on STANLEY Supplies Corporation’s trial balance as of December 31, 2027 (in absolute numbers):     Accounts payable                             $2,437,500 Accounts receivable                             8,531,250 Accumulated depreciation, equipment                             1,828,125 Cash                           14,137,500 Common stock                             9,189,375 Cost of goods sold                           16,453,125 Dividends                             1,218,750 Equipment                             7,312,500 Land                             3,046,875 Note payable due within 6 months                             2,193,750 Retained earnings                           12,309,375 Sales                           21,937,500 Selling and administrative expenses                                219,375 Supplies                             1,974,375 Unearned revenue                             2,998,125   STANLEY’S net income for the year ending December 31, 2027 is

TABLE Crafts determined it had $197,750 of supplies at the b…

TABLE Crafts determined it had $197,750 of supplies at the beginning of the year. During the year, the company purchased an additional $295,300 of supplies. There was $283,750  of supplies on hand at the end of the year. How much Supplies Expense did the company report that year: