If the month-end bank statement shows a balance of R.O.360,000, outstanding checks are R.O.120,00o, a deposit of R.O.40,000 was in transit at month end, and a check for R.O.5,00o was erroneously added by the bank to the account, the correct balance in the bank account at month end is
If the month-end bank statement shows a balance of R.O.360,000, outstanding checks are R.O.120,00o, a deposit of R.O.40,000 was in transit at month end, and a check for R.O.5,00o was erroneously added by the bank to the account, the correct balance in the bank account at month end is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![If the month-end bank statement shows a balance of R.O.360,000,
outstanding checks are R.O.120,00o, a deposit of R.O.40,000 was in
transit at month end, and a check for R.O.5,00o was erroneously
added by the bank to the account, the correct balance in the bank
account at month end is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F804506a4-5620-4750-bd61-e2bc925d9e93%2F4d225638-45a9-4a76-8a48-b58d44a4f4a2%2Fiw8fa7g.jpeg&w=3840&q=75)
Transcribed Image Text:If the month-end bank statement shows a balance of R.O.360,000,
outstanding checks are R.O.120,00o, a deposit of R.O.40,000 was in
transit at month end, and a check for R.O.5,00o was erroneously
added by the bank to the account, the correct balance in the bank
account at month end is
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