Bank Reconciliation The accountant for Beaume Corp. was preparing a bank reconciliation as of April 30. The following items were identified: Beaume's book balance $34,795 Outstanding cheques 900 Interest earned on chequing account 62 Customer's NSF cheque returned by the bank 373 In addition, Beaume made an error in recording a customer's cheque; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730. Required: What amount will Beaume report as its adjusted cash balance at April 30?
Bank Reconciliation The accountant for Beaume Corp. was preparing a bank reconciliation as of April 30. The following items were identified: Beaume's book balance $34,795 Outstanding cheques 900 Interest earned on chequing account 62 Customer's NSF cheque returned by the bank 373 In addition, Beaume made an error in recording a customer's cheque; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730. Required: What amount will Beaume report as its adjusted cash balance at April 30?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Bank Reconciliation
The accountant for Beaume Corp. was preparing a bank reconciliation as of April 30. The following items were identified:
| Beaume's book balance | $34,795 |
| Outstanding cheques | 900 |
| Interest earned on chequing account | 62 |
| Customer's NSF cheque returned by the bank | 373 |
In addition, Beaume made an error in recording a customer's cheque; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730.
Required:
What amount will Beaume report as its adjusted cash balance at April 30?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education