Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Koffoed, Inc. had the following bank reconciliation at March 31, 2016: Balance per bank statement, 3/31/16 $37,200 Add: Deposit in transit 6,200 43,400 Less: Outstanding

image text in transcribed

Koffoed, Inc. had the following bank reconciliation at March 31, 2016: Balance per bank statement, 3/31/16 $37,200 Add: Deposit in transit 6,200 43,400 Less: Outstanding checks 7,600 Balance per books, 3/31/16 $35,800 Data per bank for the month of April 2016 follow: Deposits $47,600 Disbursements 47,900 All reconciling items at March 31, 2016 cleared the bank in April. Outstanding checks at April 30, 2016 totaled $7,000. There were no deposits in transit at April 30, 2016. What is the cash balance per books at April 30, 2016? Select one: a. 532,800 b. 528,500 C. $29,800 d. 535,500

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

Address an envelope properly.

Answered: 1 week ago

Question

Discuss guidelines for ethical business communication.

Answered: 1 week ago