The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: cash balance according to the company's records at July 31, $32,110 cash balance according to the bank statement at July 31, $31,350 checks outstanding, $2,870 deposit in transit, not recorded by the bank, $4,150 a check for $170 in payment of an account was erroneously recorded in the check register as $710 service charges, $20 Was is the reconciled bank balance?
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: cash balance according to the company's records at July 31, $32,110 cash balance according to the bank statement at July 31, $31,350 checks outstanding, $2,870 deposit in transit, not recorded by the bank, $4,150 a check for $170 in payment of an account was erroneously recorded in the check register as $710 service charges, $20 Was is the reconciled bank balance?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
- cash balance according to the company's records at July 31, $32,110
- cash balance according to the bank statement at July 31, $31,350
- checks outstanding, $2,870
- deposit in transit, not recorded by the bank, $4,150
- a check for $170 in payment of an account was erroneously recorded in the check register as $710
- service charges, $20
Was is the reconciled bank balance?
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