Answered: adjusted cash balance p

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

30)The General Company gathered the following reconciling information in preparing its Janaury bank reconciliation:

Cash balance per books, 1/31

$28,000

Deposits in transit

1,200

Notes receivable and interest collected by bank

5,600

Bank charge for check printing

160

Outstanding checks

16,000

NSF check

1,360

The adjusted cash balance per books on January 31 is

Group of answer choices

a)$19,680. b)$33,280. c)$32,080. d)$18,400.

34)Ning Corp purchased merchandise inventory with an invoice price of $15,000 and credit terms of 3/10, n/45. What is the net cost of the goods if Davies Company pays within the discount period?

a)$15,000 b)$14,760 c)$14,550 d)$14,700

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