The following information was available to the accountant of Horton Company when

Question

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 $975 660 502 43 25 20 190 The amount of cash that should appear on the balance sheet following completion of the reconciliation and adjustment of the accounting records is: $660 $640. $620. $305

Explanation / Answer

Cash that should appear in balacne sheet is = 660 +5 - 20 -25

= $ 620

Option C is correct.

Note - It is assumed that customer check returned by bank was a check for deposit.

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