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The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made on the last day of the month. The bank statement shows a collection by the bank of $4,960, and a customer's check for $1,100 was returned because it was NSF. A customer's check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. What was the correct balance in the cash account?

The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made on the last day of the month. The bank statement shows a collection by the bank of $4,960, and a customer's check for $1,100 was returned because it was NSF. A customer's check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. What was the correct balance in the 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 cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made on the last day of the month. The bank statement shows a collection by the bank of $4,960, and a customer's check for $1,100 was returned because it was NSF. A customer's check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. What was the correct balance in the cash account?
Transcribed Image Text:The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made on the last day of the month. The bank statement shows a collection by the bank of $4,960, and a customer's check for $1,100 was returned because it was NSF. A customer's check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. What was the correct balance in the cash account?
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