The cash account shows a balance of $90,000 before reconciliation. The bank statement does not include a deposit of $4,600 made on the last day of the month. The bank statement shows a collection by the bank of $1,880 and a customer's check for $640 was returned because it was NSF. A customer's check for $790 was recorded on the books as $970, and a check written for $159 was recorded as $195. The correct balance in the cash account was: a. $91,024 b. $91,096 c. $91,456 d. $95,696
The cash account shows a balance of $90,000 before reconciliation. The bank statement does not include a deposit of $4,600 made on the last day of the month. The bank statement shows a collection by the bank of $1,880 and a customer's check for $640 was returned because it was NSF. A customer's check for $790 was recorded on the books as $970, and a check written for $159 was recorded as $195. The correct balance in the cash account was: a. $91,024 b. $91,096 c. $91,456 d. $95,696
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The cash account shows a balance of $90,000 before reconciliation.
The bank statement does not include a deposit of $4,600 made on the
last day of the month. The bank statement shows a collection by the
bank of $1,880 and a customer's check for $640 was returned because
it was NSF. A customer's check for $790 was recorded on the books as
$970, and a check written for $159 was recorded as $195. The correct
balance in the cash account was:
a. $91,024
b. $91,096
c. $91,456
d. $95,696
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