Question

Consider the following information about Mile High Vintage Shop for the month of January:
• Deposits in transit as of January 31 totaled $3,425.50.
• Interest revenue earned during the month was $575.
• Bank service charges amounted to $25.
• The bank deducted from Mile High Vintage Shop’s account a check for $130.25 that was written by Foot Hills Furniture Company.
• The following checks were still outstanding as of the bank statement date:
3012 ......... $ 250.75
3008 ......... 420.82
3014 ......... 115.31
• The Mile High Vintage Shop accountant recorded a deposit of $215 as $251.
• The bank returned a check from a customer as NSF in the amount of $262.35.
• The balance per the bank at January 31 totaled $36,802.52.

Requirement
Determine the January 31 cash balance that appears on Mile High Vintage Shop’s books prior to the bank reconciliation.



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  • CreatedSeptember 01, 2014
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