A company's Cash account has a balance of $851 as of October 31. The bank statement for

Question:

A company's Cash account has a balance of $851 as of October 31. The bank statement for this account reports a balance of $1,520 as of October 31. There are outstanding checks totalling $840 and a deposit in transit of $60. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100. What is the reconciled Cash balance that should be reported on the company's as of October 31?
a. $851
b. $1,430
c. $1,751
d. $740
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...