At the end of the year, a companys bank balance for cash equals $4,000. The...
70.2K
Verified Solution
Link Copied!
Question
Accounting
At the end of the year, a companys bank balance for cash equals $4,000. The following information is available from the bank statement: Deposits Outstanding = $2,500 Service charge = $100 Note collected by the bank = $500 Checks Outstanding = $2,000 NSF check = $300 What is the companys adjusted bank balance of cash? Selected Answer: :ta. $4,500 b. $3,900 c. $3,600 d. $4,600 e. $4,100
PLEASE GIVE A LONGER RESPONSE AND EXPLAIN WHY THE ANSWER IS A. THANK YOU. I AM TRYING TO UNDERSTAND BANK RECONCILIATION AS BEST AS POSSIBLE.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
