On June 30, 2021, the bank's records say that your company has $12,956.73 in its chequing account. You are aware of three outstanding cheques for a total of $2,112.19. During June 2021, the bank rejected two deposited cheques from customers totalling $654.19 because of insufficient funds and charged you $12.00 in service fees. You had not yet received notice about the bad cheques, but you were aware of and have recorded the $12.00 of service fees. Prior to adjustment on June 30, 2021, your Cash account should have a balance of: Multiple Choice $14,402.73. $15,711.11. $11,498.73.
On June 30, 2021, the bank's records say that your company has $12,956.73 in its chequing account. You are aware of three outstanding cheques for a total of $2,112.19. During June 2021, the bank rejected two deposited cheques from customers totalling $654.19 because of insufficient funds and charged you $12.00 in service fees. You had not yet received notice about the bad cheques, but you were aware of and have recorded the $12.00 of service fees. Prior to adjustment on June 30, 2021, your Cash account should have a balance of: Multiple Choice $14,402.73. $15,711.11. $11,498.73.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 2SEQ
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![On June 30, 2021, the bank's records say that your company has $12,956.73 in its chequing account. You are aware of three
outstanding cheques for a total of $2,112.19. During June 2021, the bank rejected two deposited cheques from customers totalling
$654.19 because of insufficient funds and charged you $12.00 in service fees. You had not yet received notice about the bad cheques,
but you were aware of and have recorded the $12.00 of service fees, Prior to adjustment on June 30, 2021, your Cash account should
have a balance of:
Multiple Choice
$14,402.73.
$15,711.11.
$1,498.73.
$10,202.35.
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33 of 50
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Transcribed Image Text:On June 30, 2021, the bank's records say that your company has $12,956.73 in its chequing account. You are aware of three
outstanding cheques for a total of $2,112.19. During June 2021, the bank rejected two deposited cheques from customers totalling
$654.19 because of insufficient funds and charged you $12.00 in service fees. You had not yet received notice about the bad cheques,
but you were aware of and have recorded the $12.00 of service fees, Prior to adjustment on June 30, 2021, your Cash account should
have a balance of:
Multiple Choice
$14,402.73.
$15,711.11.
$1,498.73.
$10,202.35.
< Prev
33 of 50
Next m
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