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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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