Cardinal Company's bank statement showed a balance at May 31 of $180,974. The only reconciling items consisted of a large number

Question

3 years ago

11

of outstanding checks totaling $51,847. At May 31, what balance should Cardinal's Cash account show

1 answer:

kicyunya [14] · Answer 1 · 2022-03-14T05:23:34+03:00

Answer:

$129,127

Explanation:

Cardinal company bank statement showed a balance of $180,974 at May 31

The reconciling items consisted of outstanding checks of $51,847

Therefore, the amount that should be shown in Cardinal cash account on May 31 can be calculated as follows

= $180,974-$51,847

= $129,127

Hence a balance of $129,127 should be shown on the Cardinal cash account on May 31