Question
On Oct. 8 2022, Williams Inc, receives its bank statement, which shows a Sept. 30 cash balance of $129,769. Also, in the bank statement was
On Oct. 8 2022, Williams Inc, receives its bank statement, which shows a Sept. 30 cash balance of $129,769. Also, in the bank statement was a check copy from one of Williams' customers, returned NSF on Sept. 8, in the amount of $12,000, and Williams cash account was reduced for that amount.
A Williams staff accountant compares check and deposit registers to the bank statement at that date, and finds a total of $10,940 of outstanding checks and $9,849 of deposits in transit on Sept. 30.
What is the correct cash balance at Sept. 30, 2022?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
