a. The August 31 balance shown on the bank statement is $9,810. b. There is a de

Question

a. The August 31 balance shown on the bank statement is $9,810. b. There is a deposit in transit of $1,260 at August 31. c. Outstanding checks at August 31 totaled $1,890. d. Interest credited to the account during August but not recorded on the company's books amounted to $108. e. A bank charge of $36 for checks was made to the account during August. Although the company was expecting a charge, its amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $631 had been recorded as a disbursement of $361. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $9,378. Of the following options what would be considered a credit and what dollar amount?(I have already included the interest of $108): Cash Prepaid insurance Accounts receivable Service revenue Prepaid rent Common stock Deposit in transit. (b) What is the amount of cash to be included in the August 31 balance sheet for the bank account reconciled? (Omit the "$" sign in your response.) Amount of cash $ check my workeBook Linkreferences

Explanation / Answer

August 31 balance per bank statement is $9,810 add deposit in transit $1,260 less Outstanding checks $1,890 Adjusted balance per bank statement $9,180 August 31 balance per Cash account $9,378 add Interest $108 less bank charge $36 less error correction $270 Adjusted balance per cash account $9,180

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