QUESTION 12 A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the adjusted bank balance? O A. $60,850 OB. $69,350 O C. $72,250 O D. $70,850

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question 12
O A. The bank collected a note receivable of $1,000 for the business.
O B. The bank charged a service fee of $20 on the bank statement.
O C.A nonsufficient funds check of $75 was returned to the bank and deducted from the bank balance.
O D. A deposit was in transit and not yet deposited in the bank.
QUESTION 12
A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of
$8,500. What is the adjusted bank balance?
O A. $60,850
O B. $69,350
OC. $72,250
O D. $70,850
QUESTION 13
4 pc
Which of the following are two methods of recording uncollectible receivables?
O A. The aross-up method and the direct write-off method
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Transcribed Image Text:O A. The bank collected a note receivable of $1,000 for the business. O B. The bank charged a service fee of $20 on the bank statement. O C.A nonsufficient funds check of $75 was returned to the bank and deducted from the bank balance. O D. A deposit was in transit and not yet deposited in the bank. QUESTION 12 A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the adjusted bank balance? O A. $60,850 O B. $69,350 OC. $72,250 O D. $70,850 QUESTION 13 4 pc Which of the following are two methods of recording uncollectible receivables? O A. The aross-up method and the direct write-off method Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window G Take Test: ACC 101 .. BUS communication acc 101 practice fin. Desktop Lenovo Home F11 F12 F9 F10 Esc F6 F7 F8 F3 F4 F5 FnLock F1 F2 & 古
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