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At March 31, Cummins Company had an unadjusted balance in its cash account of $11,400. At the end of March, the company determined that it had outstanding checks of $1,325, deposits in transit of $790, a bank service charge of $55, and a NSF check from a customer for $240. What is the true cash balance at March 31?

At March 31, Cummins Company had an unadjusted balance in its cash account of $11,400. At the end of March, the company determined that it had outstanding checks of $1,325, deposits in transit of $790, a bank service charge of $55, and a NSF check from a customer for $240. What is the true cash balance at March 31?

FINANCIAL ACCOUNTING
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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At March 31, Cummins Company had an unadjusted balance in its cash account of $11,400. At the end of March, the company determined that it had outstanding checks of $1,325, deposits in transit of $790, a bank service charge of $55, and a NSF check from a customer for $240. What is the true cash balance at March 31? Multiple Choice О $11,400 $11,105 $10,500 $10,865 29.8
Transcribed Image Text:At March 31, Cummins Company had an unadjusted balance in its cash account of $11,400. At the end of March, the company determined that it had outstanding checks of $1,325, deposits in transit of $790, a bank service charge of $55, and a NSF check from a customer for $240. What is the true cash balance at March 31? Multiple Choice О $11,400 $11,105 $10,500 $10,865 29.8
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