Multiple Choice Question 112 The cash account shows a balance of $40400 before r

Question

Multiple Choice Question 112 The cash account shows a balance of $40400 before reconiiation. The bank statement does not include a deposit of $8600 made on the last day of the month. The bank statement shows a collection by the bank of $3920 and a customers check for $1310 was returned because it was NSF. A customers check for $1320 was recorded on the books as $1900, and a check written for $324 was recorded as $392. The correct balance in the cash account was O $42498. O $42362 O $43522. O $51098.

Explanation / Answer

112

Bal before reconciliation + Collection by bank + Check wrongly written - NSF cheque - Cheque wrongly entered = Correct balance of cash account

$ 40400 + $ 3920 + 68 - 1310 - 580 = $ 42498 (Option A)

113.

Option A

71000-53500+14400+2800 =$ 34700

114.

$ 40720 + $ 10500 - $ 15800 = $ 35420 (Option D)

115.

$ 34310 + 46400 - ($49400+$6030) = 25280 (Option D)

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