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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Urmilaben
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ea24a42-256d-46fc-8da4-e1587c47dd40%2F06719a3e-092d-45b5-9c3b-7963df7ac0d0%2F5gtv32r_processed.jpeg&w=3840&q=75)
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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