I’m not getting the right answer for this. The answer I’m getting is $9,847. The following information was taken from a company's bank reconciliation at the end of the year:Bank balance$8,300Checks outstanding$8,000$1,900Note collected by the bankService fee$33Deposits outstanding$5,300NSF check$320What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?Multiple Choice$9,880.$5,567$7,980.

Cash balance = Bank balance + Deposits outstanding - Checks outstanding

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?

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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