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A company's Cash account has a balance of $851 as...

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A company's Cash account has a balance of $851 as of October 31. The bank statement for this account reports a balance of $1,520 as of October 31. There are outstanding checks totaling $840 and a deposit in transit of $60. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100. What is the reconciled Cash balance that should be reported on the company's balance sheet as of October 31? a. $851 b. $1,430 c. $1,751 d. $740

 

Paper#2379 | Written in 18-Jul-2015

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