The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $8,300 Checks outstanding $8,000 Note collected by the bank $1,900 Service fee 33 Deposits outstanding $5,300 NSF check 320 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?
The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $8,300 Checks outstanding $8,000 Note collected by the bank $1,900 Service fee 33 Deposits outstanding $5,300 NSF check 320 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I’m not getting the right answer for this. The answer I’m getting is $9,847.
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