Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Brockton Carpet Cleaning prepares a bank reconciliation at the end of every month. At the end of July, the balance in the general ledger checking

Brockton Carpet Cleaning prepares a bank reconciliation at the end of every month. At the end of July, the balance in the general ledger checking account was $3,090 and the bank balance on the bank statement was $3,150. Outstanding checks totaled $850 and deposits in transited were $570. The bank statement revealed that a check written for $290 was incorrectly recorded by Brockton as a $390 disbursement. The bank statement listed service charges and NSF check charges totaling $320. The corrected cash balance is:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Internal Auditing

Authors: Manuel E. Peña-Rodríguez

1st Edition

1736742922, 978-1736742921

More Books

Students also viewed these Accounting questions