Question
please answer all three questions per chegg guidelines 37. Perkins Inc. prepares a bank reconciliation at the end of every month. At the end of
please answer all three questions per chegg guidelines
37. Perkins Inc. prepares a bank reconciliation at the end of every month. At the end of May, the cash T-account showed a balance of $1,360 and the bank statement showed a balance of $1,445. Outstanding checks totaled $350 and deposits in transit were $150. The correct amount of cash for Perkins is:
a. $1,130
b. $1,160
c. $1,245
d. $1,445
38. Brockton Company prepares a bank reconciliation at the end of every month. At the end of July, the balance in the cash T-account was $2,750 and the balance on the bank statement was $2,980. The bank statement listed service charges of $20 and NSF checks of $130. The bank also accidentally recorded a check written for $120 (correct amount) as $220 (incorrect amount). The correct cash balance for Brockton is:
a. $2,270
b. $2,550
c. $2,470
d. $2,700
39. Moncton Corp. prepares a bank reconciliation at the end of every month. At the end of July, the balance in the cash T-account was $2,750 and the balance on the bank statement was $2,980. Outstanding checks totaled $680 and deposits in transit were $400. The correct cash balance for Moncton is:
a. $2,270
b. $2,550
c. $2,470
d. $2,700
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