Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

New Store has the following information at August 31 : - Two deposits made on August 31 were not on the bank statement, totaling $5,300.

image text in transcribed
New Store has the following information at August 31 : - Two deposits made on August 31 were not on the bank statement, totaling $5,300. - The bank collected an EFT payment on a note receivable for $2,750. Of this amount, $150 represented interest on the note. - August 31 balance in Cash was $12,997. - The bookkeeper forgot to record check #1578 for $843 which was cashed by the bank on August 15 th. - The balance on the bank statement as of August 31 was $11,800. - A check printing service fee of $40 was shown on the bank statement. - A NSF check of $100. - Checks #1572,1606, and 1548 , totaling $2,336, were not shown on the bank statement, even though the company had sent the check- What is the adjusted bank balance at August 31 ? A. $16,960 B. $14,410 C. $14,764 D. $15,961

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

Financial Management In The Sport Industry

Authors: Matthew T Brown, Daniel Rascher, Mark S Nagel, Chad McEvoy

2nd Edition

9781621590118

More Books

Students also viewed these Accounting questions

Question

What are the functions of top management?

Answered: 1 week ago

Question

Bring out the limitations of planning.

Answered: 1 week ago

Question

Why should a business be socially responsible?

Answered: 1 week ago

Question

Discuss the general principles of management given by Henri Fayol

Answered: 1 week ago

Question

What styles do they use?

Answered: 1 week ago

Question

create a semiotic sign system to communicate an idea.

Answered: 1 week ago

Question

apply research strategies to writing.

Answered: 1 week ago