Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 31, Clark Company's cash balance per its general ledger is $4,280. The bank's cash balance per the January 31 bank statement is $3,100.

On January 31, Clark Company's cash balance per its general ledger is $4,280. The bank's cash balance per the January 31 bank statement is $3,100. The following information is gathered from the bank statement and company records: Checks outstanding $ 1,100 Deposits outstanding $ 1,200 Interest earned on bank account $ 20 NSF check $ 1,000 Service fee $ 100 What is the company's correct ending balance of cash on January 31, per the reconciliation? Multiple Choice $3,000 $4,380 $2,020 $3,200

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

The Financial Numbers Game

Authors: Charles W Mulford, Eugene E Comiskey

1st Edition

0471770736, 9780471770732

More Books

Students also viewed these Accounting questions