Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,480 and the bank statement showed a bank balance of $1,325. Outstanding checks totaled $410 and deposits in transit were $210. The bank statement listed service charges of $90 and NSF checks totaling $265. The corrected cash balance is: Multiple Choice $860. $770 O $1.325.
Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,480 and the bank statement showed a bank balance of $1,325. Outstanding checks totaled $410 and deposits in transit were $210. The bank statement listed service charges of $90 and NSF checks totaling $265. The corrected cash balance is: Multiple Choice $860. $770 O $1.325.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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