At March 31, Cummins Co. had an unadjusted balance in its cash account of $9700. At the end of March, the company determined that it had outstanding checks of $950, deposits in transit of $620, a bank service charge of $25, and an NSF check from a customer for $210. What is the true cash balance at March 31?
A. $9700
B. $9465
C. $9145
D. $9370
Answer: B
You might also like to view...
The retained earnings balance on the retained earnings statement is the same amount that appears in the stockholders' equity section of the balance sheet
Indicate whether the statement is true or false
Marketing plans are becoming more production oriented because of the high costs of doing business in today's economy
Indicate whether the statement is true or false
Robinson Company reported a net loss of $23,000 during the year. Comparing beginning and ending balances, you determine the following: (1) accounts receivable increased by $8,000; and (2) accrued expenses payable increased by $5,000 . What was the amount of cash used in operating activities during the year?
a. $26,000 b. $36,000 c. $20,000 d. $10,000
A(n) ________ is an explanation or justification provided as support for conclusion
A) issue B) fact C) analogy D) reason