Ans: LO: 7, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: None, IMA: Reporting
Electric Sunset Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books, 7/31 $5,500 Deposits in transit 300 Notes receivable and interest collected by bank 1,100 Bank charge for check printing 20 Outstanding checks 2,000 NSF check 170 The adjusted cash balance per books on July 31 is $4,410. $4,710. $6,410. $6,710. Ans: LO: 7, Bloom: AP, Difficulty: Medium, Min: 3, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FN: Reporting, AICPA PC: Problem Solving, IMA: Reporting
Unicycle Company developed the following reconciling information in preparing its September bank reconciliation: Cash balance per bank, 9/30 $12,000 Note receivable collected by bank 6,000 Outstanding checks 7,000 Deposits in transit 3,500 Bank service charge 75 NSF check 1,200 Determine the cash balance per books (before adjustments) for Unicycle Company.