The accounting records of Golden Company showed cash of $15,250 at June 30. The

Question

The accounting records of Golden Company showed cash of $15,250 at June 30. The balance per the bank statement at June 30 was $15,125. The only reconciling items were deposits in transit of $3,200, outstanding checks totaling $4,100, an NSF check for $1,000 returned by the bank which Golden had not yet charged back to the customer, and a bank service charge of $25. The preparation of a bank reconciliation should indicate cash owned by Golden at June 30 in the amount of: $14,475. $15,375. $14,225. $15,525.

Explanation / Answer

$15,525.

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