Question
The December 31, 20x3 bank statement for Pardy Inc. showed a balance of $16754. The accountant for the company gathered the following information to prepare
The December 31, 20x3 bank statement for Pardy Inc. showed a balance of $16754. The accountant for the company gathered the following information to prepare the December 31, 20x3 bank reconciliation:
| 1. Cheques amounting to $6488 are outstanding at December 31 |
| 2. The December 31, 20x3 deposit of $2601 had not been received by the bank in time to be included in the December bank statement |
| 3. The bank charged the company $198 for monthly standard service charges and have not yet been recorded by the company |
| 4. The company recorded a $3642 cheque in payment of an account payable as $6249 |
| 5. The balance in Pardy Inc.s cash account according to its accounting records was $X |
What is the balance in Pardy Inc.s cash account according to its accounting records at December 31, 20x3? (i.e. what is the value for X)
Select one:
a. $14345
b. $12867
c. $15276
d. $10458
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