For each of the following Five (5) Questions, determine the Bank Reconciliation Classification: Increase to Book Balance Decrease to Book Balance Increase to Bank Balance Decrease to Bank Balance Answers are shuffled, be careful! 

Stich Inc. reports the following data relating to its common stock:  Authorized Shares [auth],000 Issued Shares         [issued],000 Treasury Shares     [TS],000 The number of outstanding shares is:  Enter answers above as a whole number (no decimals) and without a dollar sign (i.e., 4,250).

$15,000 annual cost of routine repairs for a company’s equipment

The bank statement included $20 of monthly interest which was not previously known by the Company.

Allowance for Uncollectible Accounts

Salaries Payable

What is the impact on total assets when a company writes off a receivable? 

For each of the following Six (6) Questions, determine if the expenditure should be recorded as an Asset or an Expense: 

Preferred Stock

In its first year of operations, Gem Co. estimates that it will be unable to collect [per]% of sales made on account. If Gem has cash sales of $[csh],000 and credit sales of $[cr],000 during the period, how much uncollectible accounts expense should they report?  If necessary, round to nearest whole number. Enter answer as a whole number (no decimals) and without a dollar sign (i.e., 4,250).