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Krist Company provided the following data for the month of January: Balance per book, January 31 -3,130,000 Balance per bank statement, January 31 -3,500,000 Collections on January 31 but undeposited - 550,000 NSF check received from a customer returned by the bank on February 5 with the January bank statement - 50,000 Checks outstanding on January 31 - 650,000 Bank debit memo for safety deposit box rental not recorded by the depositor - 5,000 A creditor check for 30,000 was incorrectly recorded in the depositor's books as - 300,000 A customer check for 200,000 was recorded by the depositor as -20,000 The depositor neglected to make an entry for a check drawn in payment of an account payable - 125,000 What amount should be recorded as adjusted cash in bank on January 31? Select the correct response: 3,500,000 2,950,000 O 3,130,000 3,400,000

Krist Company provided the following data for the month of January: Balance per book, January 31 -3,130,000 Balance per bank statement, January 31 -3,500,000 Collections on January 31 but undeposited - 550,000 NSF check received from a customer returned by the bank on February 5 with the January bank statement - 50,000 Checks outstanding on January 31 - 650,000 Bank debit memo for safety deposit box rental not recorded by the depositor - 5,000 A creditor check for 30,000 was incorrectly recorded in the depositor's books as - 300,000 A customer check for 200,000 was recorded by the depositor as -20,000 The depositor neglected to make an entry for a check drawn in payment of an account payable - 125,000 What amount should be recorded as adjusted cash in bank on January 31? Select the correct response: 3,500,000 2,950,000 O 3,130,000 3,400,000

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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1 F Krist Company provided the following data for the month of January: Balance per book, January 31 - 3,130,000 Balance per bank statement, January 31 -3,500,000 Collections on January 31 but undeposited - 550,000 NSF check received from a customer returned by the bank on February 5 with the January bank statement - 50,000 Checks outstanding on January 31 - 650,000 Bank debit memo for safety deposit box rental not recorded by the depositor - 5,000 A creditor check for 30,000 was incorrectly recorded in the depositor's books as -300,000 A customer check for 200,000 was recorded by the depositor as - 20,000 The depositor neglected to make an entry for a check drawn in payment of an account payable - 125,000 What amount should be recorded as adjusted cash in bank on January 31? Select the correct response: 3,500,000 2,950,000 O 3,130,000 3,400,000 ( Previous Continue >
Transcribed Image Text:1 F Krist Company provided the following data for the month of January: Balance per book, January 31 - 3,130,000 Balance per bank statement, January 31 -3,500,000 Collections on January 31 but undeposited - 550,000 NSF check received from a customer returned by the bank on February 5 with the January bank statement - 50,000 Checks outstanding on January 31 - 650,000 Bank debit memo for safety deposit box rental not recorded by the depositor - 5,000 A creditor check for 30,000 was incorrectly recorded in the depositor's books as -300,000 A customer check for 200,000 was recorded by the depositor as - 20,000 The depositor neglected to make an entry for a check drawn in payment of an account payable - 125,000 What amount should be recorded as adjusted cash in bank on January 31? Select the correct response: 3,500,000 2,950,000 O 3,130,000 3,400,000 ( Previous Continue >
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