Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation:Cash balance per bank, 10/31$14,645Note receivable collected by bank3,775Outstanding checks9,711Deposits in transit5,378Bank service charge291NSF check1,559Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.Select the correct answer.$8,387$12,237$16,570$10,312

Determine cash balance before adjustment: Cash balance per bank, 10/31 $14,645 Less : Note…

Answered: Thompson Corporation gathered the…

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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Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation:

Cash balance per bank, 10/31	$14,645
Note receivable collected by bank	3,775
Outstanding checks	9,711
Deposits in transit	5,378
Bank service charge	291
NSF check	1,559

Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.

Select the correct answer.

$8,387

$12,237

$16,570

$10,312

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