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antiseptic1488 [7]
3 years ago
7

"Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with t

he monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35)."Required:
Calculate the reconciled company balance for cash.
Business
1 answer:
UNO [17]3 years ago
8 0

Answer:

$3,220

Explanation:

reconciled cash balance = cash balance - bank service fees - NSF customer's check + note receivable collected by bank + interest earned

reconciled cash balance = $2,620 - $85 - $350 + $1,000 + $35 = $3,220

NSF checks drawn by customers should be subtracted because the company assumed that they were good checks so they increased cash account, but they bounced so no cash was collected.

Sometimes banks can collected notes receivables in the name of their clients (a previous agreement must be signed), and they increase the company's cash balance.

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What evaluation criteria is used in economic analysis?a. Time to completion b. Technical feasibility c. Sustainability d. Financ
Ilia_Sergeevich [38]

Answer:

The evaluation criteria used in economic analysis is:

d. Financial units (dollars or other currency)

Explanation:

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3 years ago
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Read more on price here: brainly.com/question/11898489

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