The following bank reconciliation has been prepared.Balanceperbank statement (overdrawn)73,680Add: Outstanding lodgements102,480(87,240)Less: Outstanding chequesBalancecash book (credit)88.920perAssuming the amounts stated for items other than the cash book balance are correct what should the cash book balance be?A.$88 920 credit (as stated)B. O $120,040 creditC.$58.440 creditD.$58 440 debit

The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

The following bank reconciliation has been prepared. Balance per bank statement (overdrawn) 73,680 Add: Outstanding lodgements 102,480 Less: Outstanding cheques (87,240) 88.920 Balance per cash book (credit) Assuming the amounts stated for items other than the cash book balance are correct what should the cash book balance be? A. S88 920 credit (as stated) B. O $120,040 credit C. $58 440 credit D. $58 440 debit

The following bank reconciliation has been prepared. Balance per bank statement (overdrawn) 73,680 Add: Outstanding lodgements 102,480 Less: Outstanding cheques (87,240) 88.920 Balance per cash book (credit) Assuming the amounts stated for items other than the cash book balance are correct what should the cash book balance be? A. S88 920 credit (as stated) B. O $120,040 credit C. $58 440 credit D. $58 440 debit

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 2CE

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