Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per bank, 10/31 $16,925 Note receivable collected by bank 3,635 Outstanding checks 10,301 Deposits in transit 5,896 Bank service charge 68 NSF check 1,721

Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per bank, 10/31 $16,925 Note receivable collected by bank 3,635 Outstanding checks 10,301 Deposits in transit 5,896 Bank service charge 68 NSF check 1,721

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation:
Cash balance per bank, 10/31
$16,925
Note receivable collected by bank
3,635
Outstanding checks
10,301
Deposits in transit
5,896
Bank service charge
68
NSF check
1,721
Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.
Oa. $12,520
Ob. $10,674
Oc. $14,366
Od. $18,771

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