Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $20,400. The bank reconciliation for the period showed an adjustment for a deposit in transit of $2450, outstanding checks of $3900, a NSF check of $2600, bank service charges of $125 and the EFT from a customer in payment of the customer's account of $3400.What is the up-to-date ending Cash balance?
A. $18,275
B. $18,950
C. $21,850
D. $24,825
Answer: B
You might also like to view...
Sharing information with the other party influences the negotiation process. The existence of an attractive BATNA
A. changed several things in a negotiation. B. made negotiators holding the BATNA set lower reservation prices for themselves than their counterparts. C. made negotiators who did not hold the BATNA set higher reservation points for themselves. D. held by one negotiator but known by both negotiators, lead to a more negative negotiation outcome for the holder of the BATNA.
Cash collected and recorded by a company but not yet reflected in a bank statement are known as:
A) debit memos. B) credit memos. C) outstanding checks. D) deposits in transit.
The discount method for determining interest charges deducts interest to be paid from the credit extended
Indicate whether the statement is true or false.
Ralph made the following business gifts during the year. To Robert (a key client) at Christmas$50 To Angel (Robert’s 8-year old daughter) on her birthday20 To Art (Ralph’s secretary) on his birthday ($3 was for gift wrapping)30 To Paige (Ralph’s boss) at Christmas40 ? Presuming proper substantiation, Ralph’s deduction is:
A. $0. B. $53. C. $73. D. $78. E. $98.