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erik [133]
3 years ago
9

The following T-account is a summary of the Cash account of Cuellar Company.

Business
1 answer:
Basile [38]3 years ago
6 0

Answer:

D

Explanation:

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3 years ago
At July 31, Cullumber Company has this bank information: cash balance per bank $7,310, outstanding checks $715, deposits in tran
Luba_88 [7]

Answer:

$7,900

Explanation:

In Bank reconciliation statement the balances of Bank statement and the Balance from cash register is adjusted to calculated the adjusted cash balance for reporting at the end of the period. This is due to some outstanding deposits and Payment and other experiences which makes a difference between the bank statement balance and cash register balance.

Cash balance per bank = $7,310

Outstanding checks are those check which has been issued but not been presented in the bank yet. Deposit in transit is the amount of deposit which is pending in the clearing process.

Adjusted Balance = Cash Balance per bank - Outstanding Checks + Deposit in transit = $7,310 - $715 + $1,305 = $7,900

Bank charges are already adjusted in the cash balance per bank.

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3 years ago
Jake nickells crowdsourcing approach to his business initially kept the business finances under control in all of the following
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It eliminated the need for fixed costs.

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2 years ago
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