A company's own cash registers show a balance of $3,200.After examining the bank statement, the following information

Fantastic news! We've Found the answer you've been seeking!

Question:

A company's own cash registers show a balance of $3,200. After examining the bank statement, the following information is revealed:

Bank balance for cash = $4,000

Pending deposits = $2,300

Cheque NSF= $600

Outstanding check = $1800

Bills collected by the bank = $2,000

Service fee charged by bank = $100

After reconciliation, what will be the correct cash balance ?

Related Book For answer-question

Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

See More Books

Posted Date: Jul 07, 2023 03:45 AM

See More Questions

To celebrate the recent addition of the Hospitality and Tourism Management (HTM) department in the Spears School of Business, here is a hypothetical wine blending problem. Varietal A Varietal B...
A food control showed that 4% of the cheese in the market have fungus. Experts have developed a test to detect fungus. The accuracy of this test is estimated at 98%. a) Draw a tree diagram to...
The April 30, 2014, bank statement for KMaxx Company and the April ledger account for cash are summarized here: No outstanding checks and no deposits in transit were noted in March. However, there...
A yo-yo moves downward until it reaches the end of its string, where it "sleeps." As it sleeps-that is, spins in place-its angular speed decreases from 35 rad/s to 25 rad/s. During this time it...
Distinguish between the primary quantum yield and overall quantum yield of a chemical reaction. Describe an experimental procedure for the determination of the quantum yield.
Two systems are interconnected by two 16 MW tie lines. System A has four 30 MW generating units with forced outage rates of 10%. System B has eight 15 MW generating units with forced outage rates of...
At December 31,2010, Inland Equipment understated ending inventory by $2,800. How does this error affect cost of goods sold and net income for 2010? a. Overstates cost of goods sold and understates...
1. How should Oreos success in social engagement be evaluated? What metrics would be most useful? Consider both the usage-specific metrics that a social media provider might supply as well as...
Income Statements For the Years Ended December 31 2024 Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax...
An alphabetical list of the adjusted trial balance accounts for North Country Rentals after its first year of operations ending March 31, 2020, is shown below: Required 1. Calculate the capital...
Find g'(x). (a) g(x) = (b) g(x) = S S 0 (c) g(x) = t sin t o t3+1 0 -dt Vt + cos tdt Sad(24+1) t sec(+1) t+1 dt
Why, in your own words, would an otherwise ethical person make an unethical decision?
Suppose events elsewhere in the world lead to an increase in demand for Japanese yen, as investors seek a safe haven for their funds. How would this development affect Japanese exporters and Japans...
Suppose you operate a bank in a country where the central bank is expected to embark on a series of interest rate increases. Based on gap analysis, would this scenario be more likely to hurt or help...
Why is it sometimes necessary to change leaders to ensure cultural change?
1. The United States has a comparatively large but declining number of banks. a. The large number of banks in the United States is explained by restrictions on branching, both within and across state...
Using the balanced latitude and departure of the traverse ABCDEA and coordination of station A, compute the coordinates of stations: A,B,C,D,E: latitude departure coordinates pt bearing length N S E...
g(x) = x 5 5x 6 a. Show that g(x) = 0 has a root, , between x = 1 and x = 2. b. Show that the equation g(x) = 0 can be written as x = (px + q) 1/r , where p, q and r are integers to be found. The...
On December 31, the unadjusted trial balance of Masters Employment Agency shows the following selected data: Analysis shows that adjusting entries are required to (1) Accrue $6,900 of service...
Scoot Scooters has four employees who are paid on an hourly basis, plus time and a half for hours in excess of 40 hours a week. Payroll data for the week ended February 17, 2017, follow: (a) Prepare...
Information for Churchill Company is presented in P6-3A. Assume the same inventory data and that the company uses a perpetual inventory system. Ignore the inventory shortage in P6-3A part (d)....
Which of the following questions would an auditor ask while auditing accounts receivable to add value to an audit? a. Are accounts receivable pledged? b. Are customers satisfied with your billing...
What are some inquiries an auditor can make when examining the long-term debt account to add value to the audit?
Beta, Inc., is an affiliate of an audit client and is audited by another firm of auditors. Which of the following is most likely to be used by the auditor to obtain assurance that all guarantees of...

A company's own cash registers show a balance of $3,200.After examining the bank statement, the following information

Question:

Expert Answer:

To determine the correct cash balance after reconciliation we need to adjust the companys own ... View the full answer

Accounting Principles

Students also viewed these accounting questions