Question
Given the information on the bank statement, what should the adjusted cash balance be on the firm's books? Bank statement cash balance $14,200 Cash account
Given the information on the bank statement, what should the adjusted cash balance be on the firm's books?
Bank statement cash balance $14,200
Cash account on the books $13,420
Outstanding checks totaled $3,200
$2,200 collected during the last day of the month was put in the night deposit at the bank but did not appear on the bank statement.
The bank returned a customer's NSF check for $500 received as payment of an account receivable.
The bank statement showed $30 interest earned and a $20 service charge.
A check for supplies cleared the bank for $580 but was erroneously recorded in the books as $850 (a transposition error by the company accounting clerk).
Question 1 options:
$13,200 | |
$12,700 | |
$13,690 |
Given the information on the bank statement, what should the adjusted cash balance be on the firm's books?
Bank statement cash balance $14,200
Cash account on the books $13,420
Outstanding checks totaled $3,200
$2,200 collected during the last day of the month was put in the night deposit at the bank but did not appear on the bank statement.
The bank returned a customer's NSF check for $500 received as payment of an account receivable.
The bank statement showed $30 interest earned and a $20 service charge.
A check for supplies cleared the bank for $580 but was erroneously recorded in the books as $850 (a transposition error by the company accounting clerk).
Question 1 options:
$13,200 | |
$12,700 | |
$13,690 |
Given the information on the bank statement, what should the adjusted cash balance be on the firm's books?
Bank statement cash balance $14,200
Cash account on the books $13,420
Outstanding checks totaled $3,200
$2,200 collected during the last day of the month was put in the night deposit at the bank but did not appear on the bank statement.
The bank returned a customer's NSF check for $500 received as payment of an account receivable.
The bank statement showed $30 interest earned and a $20 service charge.
A check for supplies cleared the bank for $580 but was erroneously recorded in the books as $850 (a transposition error by the company accounting clerk).
Question 1 options:
$13,200 | |
$12,700 | |
$13,690 |
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