The Cash account of Randell Corp. reported a balance of $2,400 at October 31. Included were outstanding

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The Cash account of Randell Corp. reported a balance of $2,400 at October 31. Included were outstanding checks totaling $500 and an October 31 deposit of $200 that did not appear on the bank statement. The bank statement, which came from Park Bank, listed an October 31 balance of $3,180. Included in the bank balance was an October 30 collection of $530 on account from a customer who pays the bank directly. The bank statement also shows a $20 service charge, $10 of interest revenue that Randell earned on its bank balance, and an NSF check for $40. Prepare a bank reconciliation to determine how much cash Randell actually has at October 31.

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Financial accounting

ISBN: 978-0136108863

8th Edition

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

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