In preparing its August 31, 2020 bank reconciliation, Bing Corp. has available the following information:
Balance per bank statement, 8/31/20 $18,650
Deposit in transit, 8/31/20 3,900
Return of customer's check for insufficient funds, 8/30/19 3,600
Outstanding checks, 8/31/20 2,750
Bank service charges for August 100
At August 31, 2020, Bing's correct cash balance is:
a. $19,800. b. $19,100. c. $19,200 d. $17,500.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In preparing its August 31, 2020 bank reconciliation, Bing Corp. has available the following information: Balance per bank statement, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What types of risks does this liability structure entail for commercial banks?
Answers (1)
A project is expected to produce cash flows of $12,800, $15,900, and $18,000 over the next 3 years, respectively. After 3 years, the project will be discontinued. What is this project worth today at a discount rate of 12.5 percent? Select one: A.
Answers (1)
The accountant for Healthy Life Company, a medical services consulting firm, mistakenly omitted adjusting entries for (a) unearned revenue earned during the year ($34,900) and (b) accrued wages ($12,770).
Answers (1)
Metal Shelf Company's standard cost for raw materials is $ 4.00 per pound and it is expected that each metal shelf uses two pounds of material.
Answers (2)
the equity of the corporation, a measure of the value of its assets less debt, is estimated to be 200000. linda forgoes a return of 10% per year by keeping the equity in the corportation. the total revenue this year was 295000. this means that
Answers (1)
New Questions in Business
Hevesy Inc. produces and sells a single product. The selling price of the product is $200.00 per unit and its variable cost is $80.00 per unit. The fixed expense is $300,000 per month. The break-even in monthly unit sales is closest to: a. 2,500 b.
Answers (1)
There is only one small clothing store in the remote village of hooterville, and until recently all of the townspeople bought most of their shirts there.
Answers (1)
Each unit of a product requires 5 components. The average number of components is 5.50 due to component failure. Purchasing higher quality components can reduce the average number of components to 5 per unit. The cost per component is $450.
Answers (1)
What is Average cost
Answers (1)
FetchFun Inc. is currently an all-equity firm with 20 million shares outstanding and a stock price of $7.50 per share. FetchFun Inc. plans to announce that it will borrow $50 million and use the proceeds to repurchase shares. FetchFun Inc.
Answers (1)