Question

The following information pertains to the Chandler Company:

Cash balance per bank statement

$7,750

Cash balance per general ledger

7,335

Bank service charge

25

Deposits in transit to bank

375

Outstanding checks

985

NSF check returned by bank

170

Chandler should show the following reconciled cash balance from the bank reconciliation on its balance sheet:

Select one:

A. $7,140

B. $7,310

C. $8,125

D. $6,665

E. None of the above

Cash balance per bank statement

$7,750

Cash balance per general ledger

7,335

Bank service charge

25

Deposits in transit to bank

375

Outstanding checks

985

NSF check returned by bank

170

 

 

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