Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ut of Delta Company is closing its book and prepare bank reconciliation using the following items: Bank statement contains an ending balance of $550.000 on

image text in transcribed
ut of Delta Company is closing its book and prepare bank reconciliation using the following items: Bank statement contains an ending balance of $550.000 on Dec. 31. 2019, whereas the company ledger shows an ending balance of $530,000 - Bank statement contains a $3000 service charge for operating the account and interest income of $5000 - Delta Co. issued checks of $70,000 that have not yet been cleared by the bank - Delta Co. deposited $75,000 but this did not appear on the bank statement - A note receivable of $25.000 was collected by the bank - A check of $2000 deposited by the company has been charged back as NSF. The adjusted bank balance is: Select one a. 620,000 b. 580,000 O c. 555,000 d. none of the other

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Management Audit A Complete Guide

Authors: Gerardus Blokdyk

2020 Edition

0655905413, 978-0655905417

More Books

Students also viewed these Accounting questions