Question
Tell LTD bank statement showed a credit balance of $7000 at 30 November. It also showed bank service charges of $1100, and the collection of
Tell LTD bank statement showed a credit balance of $7000 at 30 November. It also showed bank service charges of $1100, and the collection of a note for the company of $300. Unpresensented cheqyes were $700 and there was an outstanding deposit of $2300. What was the final bank balance in the ledger at 30 November?
The part i struggle with her is that I believe it would be $7200 Dr but the answer options are either 5400(cr/dr) or 8600(cr/dr). Can you help what I am missing?
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Cornerstones of Financial Accounting
Authors: Jay Rich, Jeff Jones
4th edition
978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898
