Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Do I need to adjust the cheque(325-352)? And how to consider the cash on hand? 13. Beta Inc.'s bank statement shows a balance of $19,700
Do I need to adjust the cheque(325-352)? And how to consider the cash on hand?
13. Beta Inc.'s bank statement shows a balance of $19,700 on November 30. The following additional information is available: Deposits of $3,400, representing cash receipts for sales in November, did not appear on the November bank statement. Cheques totaling $2,900, representing cheques issued in November, did not appear on the November bank statement. A cheque for $660 from a customer was returned by the bank and marked NSF on both the cheque and bank statement. A cheque issued in November was recorded for $325, but the correct amount that cleared the bank account was $352. Cash on hand is $350. Based only on the information above, what is the correct cash balance that should be reported on Beta's balance sheet on November 30? a. b. c. d. $19,513 $19,700 $19,863 $20,200 $20,550 eStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started