Assume the following facts for Kurt Company: The month-end bank statement shows a balance of $40,000; outstanding checks total $2,000; a deposit of $8,000 is in transit at month-end; and a check for $400 was erroneously charged against the account by the bank. What is the correct cash balance at the end of the month? a. $33,600 b. $34,400 c. $45,600 d. $46,400
Assume the following facts for Kurt Company: The month-end bank statement shows a balance of $40,000; outstanding checks total $2,000; a deposit of $8,000 is in transit at month-end; and a check for $400 was erroneously charged against the account by the bank. What is the correct cash balance at the end of the month? a. $33,600 b. $34,400 c. $45,600 d. $46,400
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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![Assume the following facts for Kurt Company:
The month-end bank statement shows a balance of $40,000; outstanding checks total $2,000;
a deposit of $8,000 is in transit at month-end; and a check for $400 was erroneously charged
against the account by the bank.
What is the correct cash balance at the end of the month?
a. $33,600
b. $34,400
c. $45,600
d. $46,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87b2bb9e-7797-4e7e-82bd-2e42db223cfb%2F976f34df-9afd-4204-bc94-ddd60c55211a%2Fau0lon_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assume the following facts for Kurt Company:
The month-end bank statement shows a balance of $40,000; outstanding checks total $2,000;
a deposit of $8,000 is in transit at month-end; and a check for $400 was erroneously charged
against the account by the bank.
What is the correct cash balance at the end of the month?
a. $33,600
b. $34,400
c. $45,600
d. $46,400
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