Question
At June 30, Foundation Companys general ledger cash account showed an un-reconciled balance of $27,515. Checks written in June but not listed on the June
At June 30, Foundation Companys general ledger cash account showed an un-reconciled balance of $27,515. Checks written in June but not listed on the June bank statement totaled $1,850. A bank deposit made by Foundation after 4 pm on June 30 & accordingly reported by the bank as of July 1 equaled $2,500. The June bank statement listed a monthly service charge of $15, interest earned in June of $8 and an NSF check of $600 (the check had been collected from a customer earlier in June and deposited by Foundation at the bank). Additionally, when preparing the June bank reconciliation, Foundations accountant noted that check #2125, a payroll check to an employee, had been correctly drawn for $1,650 but erroneously entered into the companys records as $1,560. What is the ending cash balance reported on the June bank statement?
A. | None of the answer choices provided are correct. | |
B. | $26,998 | |
C. | $26,168 | |
D. | $26,348 | |
E. | $26,818 |
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