Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mazaya Company had checks outstanding totaling R.O. 12,800 on its January bank reconciliation. In February, Mazaya Company issued checks totaling R.O.78,900. The March bank statement

image text in transcribed
Mazaya Company had checks outstanding totaling R.O. 12,800 on its January bank reconciliation. In February, Mazaya Company issued checks totaling R.O.78,900. The March bank statement shows that R.O.59.400 in checks cleared the bank in March. A check from one of Mazaya Company's customers in the amount of R.0.600 was also returned marked "NSE" The amount of outstanding checks on Mazaya Company's March bank reconciliation should be Select one: a. R.O.21,300. b. R.O.32.300 C.R.O.33,200 d.R.O. 8.500 In preparing its bank reconciliation for the month of September 2011, Mazaya, Inc. has available the following information, Balance per bank statement (9/30/11) R.0.78,280; NSF check returned with 9/30/11 bank statement R.O.900; Deposits in transit (9/30/11) R.O. 10,000; Outstanding checks (9/30/11) R.0.10,400; Bank service charges for September R.O. 40; check erroneously charged by bank R.O. 300. What should be the adjusted cash balance at September 30, 2011? Select one: a. R.O.77.880. b.R.O.77.240 c. R.0.77,280. d.R.O.78,180

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

Recommended Textbook for

Understanding Letter Of Credit Learners Guide To Letter Of Credit

Authors: Nisha S Koshal

1946822078, 978-1946822079

More Books

Students also viewed these Accounting questions

Question

Describe how to train managers to coach employees. page 404

Answered: 1 week ago

Question

Discuss the steps in the development planning process. page 381

Answered: 1 week ago