On September 30 the bank statement of Fine Company showed a balance of $11,650. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: • Deposits in transit amounted to $4,815 • Outstanding checks amounted to $8,790 . $720 check was incorrectly drawn on Fine's account • NSF checks urned by the bank were $1,140 • The bank service charge was $41 • Credit memo for $160 for the collection of one of the company's account receivable What is the true cash balance? Multiple Choice OOO O $9,209 $8,395 $7,374 $8,514
On September 30 the bank statement of Fine Company showed a balance of $11,650. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: • Deposits in transit amounted to $4,815 • Outstanding checks amounted to $8,790 . $720 check was incorrectly drawn on Fine's account • NSF checks urned by the bank were $1,140 • The bank service charge was $41 • Credit memo for $160 for the collection of one of the company's account receivable What is the true cash balance? Multiple Choice OOO O $9,209 $8,395 $7,374 $8,514
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EB: Using the following information, prepare a bank reconciliation. Bank balance: $12,565. Book...
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