Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF customer's note receivable collected by the bank ($1,100), and interest earned ($23).
Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF customer's note receivable collected by the bank ($1,100), and interest earned ($23).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the company's cash records with the
monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF check from a customer ($230), a
customer's note receivable collected by the bank ($1,100), and interest earned ($23).
Required:
Calculate the reconciled company balance for cash. (Amounts to be deducted should be indicated with a minus sign.)
Company balance
Service fees
NSF check
Note received
Interest earned
Reconciled company balance
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