Question: 124 The following information pertains to the bank transactions of Rawlins Company: 1. Cash on the books as of April 30 was $499. Cash as shown on the bank statement for the same date was $1,330. 2. A deposit of $160. representing cash receipts as of April 30 did not appear on the bank statement. 3. Outstanding checks totaled $240. 4. Bank service charges for April amounted to $9. 5. The bank collected for Rawlins Company $840 (which includes $40 interest) on a note left for collection. 6. An NSF check for $80 from a customer. Joe Beck. was returned with the statement. What amount would appear on the Balance Sheet? (Show your work) a. $1,250 b. $1,330 c. $ 499 d. None of the above

Question: 124 The following information pertains to the bank transactions of Rawlins Company: 1. Cash on the books as of April 30 was $499. Cash as shown on the bank statement for the same date was $1,330. 2. A deposit of $160. representing cash receipts as of April 30 did not appear on the bank statement. 3. Outstanding checks totaled $240. 4. Bank service charges for April amounted to $9. 5. The bank collected for Rawlins Company $840 (which includes $40 interest) on a note left for collection. 6. An NSF check for $80 from a customer. Joe Beck. was returned with the statement. What amount would appear on the Balance Sheet? (Show your work) a. $1,250 b. $1,330 c. $ 499 d. None of the above

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter5: Internal Control And Cash

Section: Chapter Questions

Problem 5.4.3P

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Using the following information, prepare a bank reconciliation. Bank balance: $4,021 Book balance: $2,928 Deposits in transit: $1,111 Outstanding checks: $679 Bank charges: $35 Notes receivable: $1,325; interest: $235
Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance: $10,595 Deposits in transit: $2,588 Outstanding checks: $489 Interest income: $121 NSF check: $966

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