9 The following information was available to the accountant of Horton Company wh

Question

9 The following information was available to the accountant of Horton Company when preparing the monthly bank reconciliation: Cash balance per bank statement Cash balance per books (prior to reconciliation) Outstanding check #643 Outstanding check #651 Bank service charges Customer check returned by bank as NSF Deposits in transit Interest received from bank 803 612 54 36 75 300 27 The amount of cash that should appear on the balance sheet following completion of the reconciliation and adjustment of the accounting records is: O $794 O $803 O $719 O $228.

Explanation / Answer

Calculate amount of cash after reconciliation :

so answer is c) $719

Cash balance per books 803 Add: Interest received 27 Less: Bank service charges (36) Less: Customer check returned by bank as NSF (75) Adjusted cash balance 719

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