The following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outstanding $ 7,400 Note collected by the bank $ 1,800 Service fee $ 33 Deposits outstanding $ 4,700 NSF check $ 330 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice $6,267. $6,300. $10,470. $8,670.
The following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outstanding $ 7,400 Note collected by the bank $ 1,800 Service fee $ 33 Deposits outstanding $ 4,700 NSF check $ 330 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice $6,267. $6,300. $10,470. $8,670.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 9EB: Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance:...
Related questions
Question
The following information was taken from a company’s bank reconciliation at the end of the year:
Bank balance | $ | 9,000 |
Checks outstanding | $ | 7,400 |
Note collected by the bank | $ | 1,800 |
Service fee | $ | 33 |
Deposits outstanding | $ | 4,700 |
NSF check | $ | 330 |
What is the correct cash balance that should be reported in the company's
Multiple Choice
-
$6,267.
-
$6,300.
-
$10,470.
-
$8,670.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781305084087/9781305084087_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning