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
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text: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
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