In preparing its bank reconciliation for the month of October 2019, Big Time, Inc. has available the following information. Balance per bank statement, 10/31/19 $80,000 NSF check returned with 10/31/19 bank statement 725 Deposits in transit, 10/31/19 Outstanding checks, 10/31/19 Bank service charges for October 8,000 6,400 55 What should be the adjusted cash balance on October 31, 2019? a. $80,260. b. $80,600. c. $81,600. d. $82,500.
In preparing its bank reconciliation for the month of October 2019, Big Time, Inc. has available the following information. Balance per bank statement, 10/31/19 $80,000 NSF check returned with 10/31/19 bank statement 725 Deposits in transit, 10/31/19 Outstanding checks, 10/31/19 Bank service charges for October 8,000 6,400 55 What should be the adjusted cash balance on October 31, 2019? a. $80,260. b. $80,600. c. $81,600. d. $82,500.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5DQ
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