Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.
Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250. The bank reconciliation for the month contained the following items: Deposits in transit $750 Outstanding checks $465 Interest earned $20 NSF check returned to bank $100 Bank service charge $10 Given the above information, what adjusted cash balance should Lauren report at month-end? A. $4,500. B. 84, 820. c. $5, 160. D. $5,590.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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![Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of
$5,250. The bank reconciliation for the month contained the following items:
Deposits in transit
$750
Outstanding checks
$465
Interest earned
$20
NSF check returned to bank $100
Bank service charge
$10
Given the above information, what adjusted cash balance should Lauren report at month-end?
A. $4,500.
B. 84, 820.
c. $5, 160.
D. $5,590.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77791045-83bb-4e98-af0c-bd010d0105e0%2F1a0ed2ad-36bc-4dfa-8945-391e6ff089d4%2F17ji998_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Before reconciling to its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of
$5,250. The bank reconciliation for the month contained the following items:
Deposits in transit
$750
Outstanding checks
$465
Interest earned
$20
NSF check returned to bank $100
Bank service charge
$10
Given the above information, what adjusted cash balance should Lauren report at month-end?
A. $4,500.
B. 84, 820.
c. $5, 160.
D. $5,590.
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