Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December: Note collected (principal, $800.00; interest, $8.00, signed by Johnson) $808 Error in recording check No. 2234 payable to Beta, Inc.* 50 Bank service and collection charges 15 *The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445) Determine the adjusted ledger balance of cash as on December 31. a.$3,682 b.$5,268 c.$3,582 d.$5,168
Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December: Note collected (principal, $800.00; interest, $8.00, signed by Johnson) $808 Error in recording check No. 2234 payable to Beta, Inc.* 50 Bank service and collection charges 15 *The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445) Determine the adjusted ledger balance of cash as on December 31. a.$3,682 b.$5,268 c.$3,582 d.$5,168
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December:
*The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445)
Determine the adjusted ledger balance of cash as on December 31.
| Note collected (principal, $800.00; interest, $8.00, signed by Johnson) | $808 |
| Error in recording check No. 2234 payable to Beta, Inc.* | 50 |
| Bank service and collection charges | 15 |
*The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445)
Determine the adjusted ledger balance of cash as on December 31.
a.$3,682
b.$5,268
c.$3,582
d.$5,168
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