A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 of interest on the bank statement which has not been posted to his/her checkbook, deposits in transit of $100, and outstanding checks of $195. What is the reconciled bank balance?
a. $1,400
b. $1,520
c. $1,510
d. $1,505
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Amanda, the owner of a small business firm, has just stored some confidential business information on her computer. She wants to block external unauthorized users from accessing these details on her computer system.
Answers (1)
The purpose of "cycle counting" is to:
a. count all the items in inventory
b. count bicycles and motorcycles in inventory
c. reduce discrepancies between inventory records and actual d. reduce theft
e. count 10% of the items each month
Answers (1)
Brief exercise 8-1 ortega company manufactures computer hard drives. the market for hard drives is very competitive. the current market price for a computer hard drive is $45. ortega would like a profit of $10 per drive.
Answers (1)
The trial balance before adjustment for Martinez Company shows the following balances. Dr. Cr. Accounts Receivable $84,700 Allowance for Doubtful Accounts 2,700 Sales Revenue $462,400Using the data above, give the journal entries required to record
Answers (1)
Which concept refers to a state of normlessness that is kept in check by group membership?
Answers (1)
New Questions in Business
The Inventory account is used in each of the following except: the entry to record goods purchased on account. the return of goods purchased. payment of freight on goods sold. payment within the discount period.
Answers (1)
What are the advantages of having the federal reserve oversee the regulation of the banking system?
Answers (1)
The Dow Jones Industrial Average is: a A good measure of the strength of the U. S. economy b Very stable from day to day c An indicator of the long-term value of stocks d Can predict global markets
Answers (2)
An analysis of the accounts shows the following. 1. The equipment depreciates $248 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $550 is accrued on the notes payable. 4.
Answers (1)
On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty: a. Fees accrued but unbilled at May 31 are $7,780. b. The supplies account balance on May 31 is $2,560.
Answers (1)