On May 31, Mason Company's cash balance per its general ledger is $4,830. The bank's cash balance per the May 31 bank statement is $3700. The following Information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding 1,900 1,600 70 1,300 200 Interest earned on bank account NSF check Service fee 24 What is the company's correct ending balance of cash on May 31, per the reconciliation? Multiple Choice $4,500 $4,530 $3,400
On May 31, Mason Company's cash balance per its general ledger is $4,830. The bank's cash balance per the May 31 bank statement is $3700. The following Information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding 1,900 1,600 70 1,300 200 Interest earned on bank account NSF check Service fee 24 What is the company's correct ending balance of cash on May 31, per the reconciliation? Multiple Choice $4,500 $4,530 $3,400
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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