Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Line Item Description Amount Cash balance per bank, October 31 $15,554 Note receivable collected by bank 4,010 Outstanding checks 7,718 Deposits in transit 5,145 Bank service charge 140 NSF check 1,521 Determine the cash balance per the company’s records (before adjustments). a. $17,903 b. $10,632 c. $12,981 d. $15,330
Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Line Item Description Amount Cash balance per bank, October 31 $15,554 Note receivable collected by bank 4,010 Outstanding checks 7,718 Deposits in transit 5,145 Bank service charge 140 NSF check 1,521 Determine the cash balance per the company’s records (before adjustments). a. $17,903 b. $10,632 c. $12,981 d. $15,330
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation:
| Line Item Description | Amount |
|---|---|
| Cash balance per bank, October 31 | $15,554 |
| Note receivable collected by bank | 4,010 |
| Outstanding checks | 7,718 |
| Deposits in transit | 5,145 |
| Bank service charge | 140 |
| NSF check | 1,521 |
Determine the cash balance per the company’s records (before adjustments).
a. $17,903
b. $10,632
c. $12,981
d. $15,330
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