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109. If the month - end bank statement shows a balance of $ 58,000, outstanding checks are $ 15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end isSelect one:a. $65,400.b. $ 50,600.c. $49,400. d. $50,000.

109. If the month - end bank statement shows a balance of $ 58,000, outstanding checks are $ 15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end isSelect one:a. $65,400.b. $ 50,600.c. $49,400. d. $50,000.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 3MC
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109. If the month - end bank statement shows a balance of $ 58,000, outstanding checks are $ 15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end isSelect one:a. $65,400.b. $ 50,600.c. $49,400. d. $50,000.
Transcribed Image Text:109. If the month - end bank statement shows a balance of $ 58,000, outstanding checks are $ 15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end isSelect one:a. $65,400.b. $ 50,600.c. $49,400. d. $50,000.
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