Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation: Line Item Description Amount Cash balance per company’s records, September 30 $3,019 Deposits in transit 450 Note receivable and interest collected by bank 895 Bank charge for check printing 31 Outstanding checks 1,286 NSF check 169 Determine the adjusted balance that would appear in the company section of the bank reconciliation on September 30. a. $3,047. b. $2,183. c. $2,878. d. $3,714.
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation: Line Item Description Amount Cash balance per company’s records, September 30 $3,019 Deposits in transit 450 Note receivable and interest collected by bank 895 Bank charge for check printing 31 Outstanding checks 1,286 NSF check 169 Determine the adjusted balance that would appear in the company section of the bank reconciliation on September 30. a. $3,047. b. $2,183. c. $2,878. d. $3,714.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EB: Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance:...
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Question
Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation:
| Line Item Description | Amount |
|---|---|
| Cash balance per company’s records, September 30 | $3,019 |
| Deposits in transit | 450 |
| Note receivable and interest collected by bank | 895 |
| Bank charge for check printing | 31 |
| Outstanding checks | 1,286 |
| NSF check | 169 |
Determine the adjusted balance that would appear in the company section of the bank reconciliation on September 30.
a. $3,047.
b. $2,183.
c. $2,878.
d. $3,714.
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