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Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF customer's note receivable collected by the bank ($1,100), and interest earned ($23).

Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF customer's note receivable collected by the bank ($1,100), and interest earned ($23).

Financial Accounting
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 19E
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Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF check from a customer ($230), a customer's note receivable collected by the bank ($1,100), and interest earned ($23). Required: Calculate the reconciled company balance for cash. (Amounts to be deducted should be indicated with a minus sign.) Company balance Service fees NSF check Note received Interest earned Reconciled company balance
Transcribed Image Text:Bourne Incorporated reports a cash balance at the end of the month of $2,320. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($73), an NSF check from a customer ($230), a customer's note receivable collected by the bank ($1,100), and interest earned ($23). Required: Calculate the reconciled company balance for cash. (Amounts to be deducted should be indicated with a minus sign.) Company balance Service fees NSF check Note received Interest earned Reconciled company balance
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