Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cash account shows a balance of 45,000 before reconciliation. The bank statement does not include a deposit of 2,300 made on the last day

The cash account shows a balance of £45,000 before reconciliation. The bank statement does not include a deposit of £2,300 made on the last day of the month. The bank statement shows a collection by the bank of £940 and a customer’s check for £320 was returned because it was NSF. A customer’s check for £450 was recorded on the books as £540, and a check written for £79 was recorded as £97. How much is the correct balance in the cash account?

Step by Step Solution

3.50 Rating (163 Votes )

There are 3 Steps involved in it

Step: 1

Cash balance per books 45000 Add Collection by bank 940 Error ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

11th edition

978-1111528300, 1111528128, 1111528306, 978-1111528126

More Books

Students also viewed these Accounting questions