Question
the accounting records and bank statement provide the following info at the end of april. the closing cash account balance was 29,000 and the bank
the accounting records and bank statement provide the following info at the end of april. the closing cash account balance was 29,000 and the bank statement shows a closing balance of 31,000. on reviewing the bank statement is is found an account customer has deposited 2500 into the bank account for a march sale and the monthly insurance premium of 550 was automatically charged to the account. interest of 1500 was paid by the bank and a bank fee of 50 was charged to the account. a payment of 950 to a supplier has been recorded twice in the accounts. after the calculation of the ending reconciled cash balance, what is the balance of the cash account
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started