Question
Required The bank statement on November 30 should show a balance of ? The balance of the Cash account in a firm's ledger on November
Required The bank statement on November 30 should show a balance of ?
The balance of the Cash account in a firm's ledger on November 30 was $14,345 BEFORE consideration of the facts shown below. The following facts were disclosed: I. A $350 check was returned marked Insufficient Funds II. III. Collections made at the end of November, but not yet deposited, $2,125 A bank debit memo for service charges, $5, was included with the bank statement IV. A check written for $75 was entered in the checkbook as $57 V. Outstanding checks were: #439 #441 #442 (certified) TOTAL $76.00 85.00 100.00 $261.00
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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