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The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $ 8, 300 Checks outstanding 8, 200 Note collected by the bank 1,200 Service fee 31 Deposits outstanding 4,000 NSF check from a customer 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 $7,970 $9,170 $4,100 $4,069

The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $ 8, 300 Checks outstanding 8, 200 Note collected by the bank 1,200 Service fee 31 Deposits outstanding 4,000 NSF check from a customer 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 $7,970 $9,170 $4,100 $4,069

FINANCIAL ACCOUNTING
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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The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $ 8,300 Checks outstanding 8, 200 Note collected by the bank 1,200 Service fee 31 Deposits outstanding 4,000 NSF check from a customer 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 $7,970 $9,170 $4,100 $4,069
Transcribed Image Text:The following information was taken from a company's bank reconciliation at the end of the year: Bank balance $ 8,300 Checks outstanding 8, 200 Note collected by the bank 1,200 Service fee 31 Deposits outstanding 4,000 NSF check from a customer 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 $7,970 $9,170 $4,100 $4,069
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