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The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Balance, April 1 April 5 #101 $ 700 April 9 $ 2,500 April 12 #102 200 April 19 April 22 #103 500 #104 1,000 April 27 April 29 April 30 Other Balance $ 6,000 5,300 7,800 7,600 7,100 6,100 EFT payment NSF check $ 200 5,900 100 5,800 Service charge 25 5,775 Cash (A) Debit Credit April 1 Balance 6,000 April 8 2,500 700 April 2 #101 April 28 500 200 April 10 #102 500 April 15 #103 1,100 300 April 20 #104 April 29 #105 April 30 Balance 6,200 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was correctly written for $1,100. The NSF check had been received from a customer. What should the balance in the Cash account be after the reconciliation journal entries are posted? alance in Cash Account

The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Balance, April 1 April 5 #101 $ 700 April 9 $ 2,500 April 12 #102 200 April 19 April 22 #103 500 #104 1,000 April 27 April 29 April 30 Other Balance $ 6,000 5,300 7,800 7,600 7,100 6,100 EFT payment NSF check $ 200 5,900 100 5,800 Service charge 25 5,775 Cash (A) Debit Credit April 1 Balance 6,000 April 8 2,500 700 April 2 #101 April 28 500 200 April 10 #102 500 April 15 #103 1,100 300 April 20 #104 April 29 #105 April 30 Balance 6,200 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was correctly written for $1,100. The NSF check had been received from a customer. What should the balance in the Cash account be after the reconciliation journal entries are posted? alance in Cash Account

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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The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Balance, April 1 April 5 #101 $ 700 April 9 $ 2,500 April 12 #102 200 April 19 #103 500 April 22 April 27 #104 1,000 April 29 April 30 Other Balance $ 6,000 5,300 7,800 7,600 7,100 6,100 EFT payment $ 200 5,900 NSF check 100 5,800 Service charge 25 5,775 Cash (A) Debit Credit April 1 Balance 6,000 April 8 2,500 700 April 2 #101 April 28 500 200 April 10 #102 500 April 15 #103 1,100 300 April 20 #104 April 29 #105 April 30 Balance 6,200 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was correctly written for $1,100. The NSF check had been received from a customer. What should the balance in the Cash account be after the reconciliation journal entries are posted? alance in Cash Account
Transcribed Image Text:The April 30 bank statement for KMaxx Company and the April ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Balance, April 1 April 5 #101 $ 700 April 9 $ 2,500 April 12 #102 200 April 19 #103 500 April 22 April 27 #104 1,000 April 29 April 30 Other Balance $ 6,000 5,300 7,800 7,600 7,100 6,100 EFT payment $ 200 5,900 NSF check 100 5,800 Service charge 25 5,775 Cash (A) Debit Credit April 1 Balance 6,000 April 8 2,500 700 April 2 #101 April 28 500 200 April 10 #102 500 April 15 #103 1,100 300 April 20 #104 April 29 #105 April 30 Balance 6,200 No outstanding checks and no deposits in transit were noted in March. However, there are deposits in transit and checks outstanding at the end of April. The EFT involved an automatic monthly payment to one of KMaxx's creditors. Check #104 was correctly written for $1,100. The NSF check had been received from a customer. What should the balance in the Cash account be after the reconciliation journal entries are posted? alance in Cash Account
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