Rainey Company's true cash balance on October 31 is $4,150. The following information is available for the bank reconciliation: 1) Outstanding checks, $660. 2) Deposits in transit, $480. 3) Bank service charges, $95. 4) The bank had collected an account receivable for Rainey Company, $1,050. 5) The bank statement included an NSF check written by one of Ramsey's customers for $630. What was the unadjusted book balance on October 31? a) $4,330 b) $4,875 c) $3,825 d) $3,920
Rainey Company's true cash balance on October 31 is $4,150. The following information is available for the bank reconciliation: 1) Outstanding checks, $660. 2) Deposits in transit, $480. 3) Bank service charges, $95. 4) The bank had collected an account receivable for Rainey Company, $1,050. 5) The bank statement included an NSF check written by one of Ramsey's customers for $630. What was the unadjusted book balance on October 31? a) $4,330 b) $4,875 c) $3,825 d) $3,920
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Rainey Company's true cash balance on October 31 is $4,150. The following information is available
for the bank reconciliation:
1) Outstanding checks, $660.
2) Deposits in transit, $480.
3) Bank service charges, $95.
4) The bank had collected an account receivable for Rainey Company, $1,050.
5) The bank statement included an NSF check written by one of Ramsey's customers for $630.
What was the unadjusted book balance on October 31?
a) $4,330
b) $4,875
c) $3,825
d) $3,920
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