Balance per bank - $10,492 Balance per checkbook - 9,807 Checks that have been w

Question

Balance per bank - $10,492 Balance per checkbook - 9,807 Checks that have been written but have not yet cleared the bank - 2,210; Deposits that have been made but have not yet been recorded by the bank - 4,366; Customer payment collected by the bank - 3,459; Bank Service Charge - 85; NSF Check - 645; Interest Earned on the account - 103; A check was recorded by the bank for $178, but incorrectly recorded in the checkbook as $187; Using the information, what is the reconciled cash balance that will show on the balance sheet as "Cash"?

a. $10,492

b. $9,807

c. $14,858

d. $12,648

e. none of the above

Explanation / Answer

Answer is d. $12,648

Balance per checkbook 9,807 ADD Customer payment collected by the bank 3,459 Interest Earned on the account 103 correctly recorded in the checkbook as $187 9 3,571 Less Bank Service Charge -85 NSF Check -645 -730 Adjusted book balance 12,648

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