13) Osborn Company assembled the following information in completing its March bank reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250; NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this reconciliation, Osborn will a. reduce its cash account by $475. b. reduce its cash account by $25. c. increase its cash account by $55. d. reduce its cash account by $105.
13) Osborn Company assembled the following information in completing its March bank reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250; NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this reconciliation, Osborn will a. reduce its cash account by $475. b. reduce its cash account by $25. c. increase its cash account by $55. d. reduce its cash account by $105.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:13) Osborn Company assembled the following information in completing its March bank
reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250;
NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this
reconciliation, Osborn will
a. reduce its cash account by $475.
b. reduce its cash account by $25.
c. increase its cash account by $55.
d. reduce its cash account by $105.
14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the
company's books for ¥4,190, the appropriate treatment on the bank reconciliation would be to
a. add ¥720 to the book's balance.
b. subtract ¥720 from the book's balance.
c. deduct ¥720 from the bank's balance.
d. deduct ¥4,910 from the book's balance.

Transcribed Image Text:7) Tyler, Inc. had the following bank reconciliation at March 31. 2011:
€37,200
10,300
47,500
12.600
€34,900
Balance per bank statement, 3/31/11
Add: Deposit in transit
Less: Outstanding checks
Balance per books, 3/31/11
Data per bank for the month of April 2011 follow:
€46,700
49,700
Deposits
Disbursements
All reconciling items at March 31, 2011 cleared the bank in April. Outstanding checks at April 30,
2011 totaled €6,000. There were no deposits in transit at April 30, 2011. What is the cash balance
per books at April 30, 2011?
a. €28,200
b. €31,900
c. €34,200
d. €38,500
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