Question 9 On September 30, the books of Rankin Company indicates a balance in the Cash account of $14,700. Determine the adjusted balance on the basis of the following reconciling items: (a) Deposits of cash sales of $1,368 had been erroneously recorded in the cash receipts journal as $1,296. (b) Deposits in transit not recorded by bank, $2,000 (c) Bank debit memorandum for service charges, $100. (d) Bank credit memorandum for note collected by bank, $11,400, including $200 interest. (e) Bank debit memorandum for $872 NSF (not-sufficient-funds) check from Bill Smith, a customer. (f) Checks outstanding, $8,800 Select one: A. $25,056 B. $25,200 OC. $27,200 D. $18,400
Question 9 On September 30, the books of Rankin Company indicates a balance in the Cash account of $14,700. Determine the adjusted balance on the basis of the following reconciling items: (a) Deposits of cash sales of $1,368 had been erroneously recorded in the cash receipts journal as $1,296. (b) Deposits in transit not recorded by bank, $2,000 (c) Bank debit memorandum for service charges, $100. (d) Bank credit memorandum for note collected by bank, $11,400, including $200 interest. (e) Bank debit memorandum for $872 NSF (not-sufficient-funds) check from Bill Smith, a customer. (f) Checks outstanding, $8,800 Select one: A. $25,056 B. $25,200 OC. $27,200 D. $18,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Question 9
On September 30, the books of Rankin Company indicates a balance in the Cash account of $14,700. Determine the adjusted balance on the basis of
the following reconciling items:
(a) Deposits of cash sales of $1,368 had been erroneously recorded in
the cash receipts journal as $1,296.
(b) Deposits in transit not recorded by bank, $2,000
(c) Bank debit memorandum for service charges, $100.
(d) Bank credit memorandum for note collected by bank,
$11,400, including $200 interest.
(e) Bank debit memorandum for $872 NSF (not-sufficient-funds) check
from Bill Smith, a customer.
(f) Checks outstanding, $8,800
Select one:
A. $25,056
B. $25,200
OC. $27,200
D. $18,400
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