The following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outstanding $ 7,400 Note collected by the bank $ 1,800 Service fee $ 33 Deposits outstanding $ 4,700 NSF check $ 330 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice $6,267. $6,300. $10,470. $8,670.
The following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outstanding $ 7,400 Note collected by the bank $ 1,800 Service fee $ 33 Deposits outstanding $ 4,700 NSF check $ 330 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice $6,267. $6,300. $10,470. $8,670.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information was taken from a company’s bank reconciliation at the end of the year:
| Bank balance | $ | 9,000 |
| Checks outstanding | $ | 7,400 |
| Note collected by the bank | $ | 1,800 |
| Service fee | $ | 33 |
| Deposits outstanding | $ | 4,700 |
| NSF check | $ | 330 |
What is the correct cash balance that should be reported in the company's
Multiple Choice
-
$6,267.
-
$6,300.
-
$10,470.
-
$8,670.
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