Question
Long Branch Company's Cash account shows an ending balance of $660. The bank statement shows a $19 service charge and an NSF check for $200.
Long Branch Company's Cash account shows an ending balance of $660. The bank statement shows a $19 service charge and an NSF check for $200. A $300 deposit is in transit, and outstanding checks total $340 What is Long Branch's adjusted cash balance?
A). $326.
B). $500.
C). $441.
D). $486.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
