A company's bank statement shows a cash balance of $4,160. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,150, NSF check of $290, interest earned of $37, service fee of $47, and a check for $170 recorded twice by the company. Calculate the correct balance of cash. Cash balance

A company's bank statement shows a cash balance of $4,160. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,150, NSF check of $290, interest earned of $37, service fee of $47, and a check for $170 recorded twice by the company. Calculate the correct balance of cash. Cash balance

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

See similar textbooks