- A Company Needed To Determine The Correct Cash Balance To Prepare The Month End Financial Statements The Following Info 1 (45.62 KiB) Viewed 49 times
A
company needed to determine the correct cash balance to prepare the month end financial statements. The following information was provided: The bank balance per
statement at June 30 was $15,100 and the book balance before adjustments was $7,850. The additional information provided indicated the following: . • the bank collected a note on behalf of the
company plus interest of $4,320. The interest portion was $320. • the
company determined that outstanding checks totaled $7,210 and deposits in transit was $5,377 • check #2755 written by the
company for $1,230.00 was deducted as $123.00 by the bank • bank charges was $15 and interest earned on the bank account balance was $5 What amount would the
company determine the cash balance must be? O $12,160 O $13,267 O $36,480 O $20,010 O None of the above