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Author Question: The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books ... (Read 40 times)

shofmannx20

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on: Nov 11, 2019
The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes

1. A cheque for $200 to pay the electric bill was recorded on the books as $20.
2. Included on the bank statement was a note collected by the bank for $300 plus interest of $30.
3. Cheques outstanding totaled $360.
4. Bank service charges were $50.
5. Deposits in transit were $2,140.

Which item(s) should be subtracted from the balance per books?
◦ Bank service charge
◦ Bank service charge and the note collected by the bank
◦ Cheques outstanding and bank service charge
◦ None of the above are correct.
College Accounting: A Practical Approach ¦ Slater, Zwicker ¦ 12th Edition
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Marked as best answer by shofmannx20 on Nov 11, 2019

swimkari

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Reply #1 on: Nov 11, 2019
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shofmannx20

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Reply 2 on: Nov 11, 2019
Thanks for the timely response, appreciate it

Animal_Goddess

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Reply 3 on: Yesterday
Wow, this really help

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