The bank statement for ABC Corp. shows a balance of $3,229 as of April 30, 20x7....

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The bank statement for ABC Corp. shows a balance of $3,229 as of April 30, 20x7. ABC's ledger cash balance on this same date is $3,565. ABC Corp. had written a total of $1,220 checks that were outstanding and did not appear on the bank statement. ABC Corp. deposited $1,655 late on April 30 that did not appear on the bank statement. According to these events, what is the reconciled amount of 'Cash' that should appear on ABC's Balance sheet as of April 30, 20x7. The bank statement for ABC Corp. shows a balance of $3,229 as of April 30, 20x7. ABC's ledger cash balance on this same date is $3,565. ABC Corp. had written a total of $1,220 checks that were outstanding and did not appear on the bank statement. ABC Corp. deposited $1,655 late on April 30 that did not appear on the bank statement. According to these events, what is the reconciled amount of 'Cash' that should appear on ABC's Balance sheet as of April 30, 20x7.

Answer rating: 100% (QA)

To reconcile the cash balance of ABC Corp we need to adjust the bank statement balance for any outst... View the full answer