Question
On May 31, Money Corporation's Cash account showed a balance of $19,500 before the bank reconciliation was prepared. After examining the May bank statement and
On May 31, Money Corporation's Cash account showed a balance of $19,500 before the bank reconciliation was prepared. After examining the May bank statement and items included with it, the company's accountant found the following items:
Checks outstanding $1,950
Deposits outstanding 2,000
NSF check 230
Service Charges 70
Error: Money Corp. wrote a check for $85 but recorded it incorrectly for $850.
What is the amount of cash that should be reported in the company's balance sheet as of May 31?
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The Employers Guide To Surviving Payroll And Human Resources Audits 2019
Authors: Paul E Love
1st Edition
1073422771, 978-1073422777
