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On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding Interest earned on bank account IS Service fee What is the company's correct ending balance of cash on November 30, per the reconciliation? 1,325 3,238 36 25

On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding Interest earned on bank account IS Service fee What is the company's correct ending balance of cash on November 30, per the reconciliation? 1,325 3,238 36 25

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding $ 1,325 Deposits outstanding $ 3,238 Interest earned on bank account $ 36 Service fee 25 What is the company's correct ending balance of cash on November 30, per the reconciliation? Multiple Choice O $5,953 $4,029 O $7,855 $9,757
Transcribed Image Text:On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding $ 1,325 Deposits outstanding $ 3,238 Interest earned on bank account $ 36 Service fee 25 What is the company's correct ending balance of cash on November 30, per the reconciliation? Multiple Choice O $5,953 $4,029 O $7,855 $9,757
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