The Conner Company's August 1,2010 cash balance on their books was $90,000.As of August 1,outstanding checks total $44,000 and deposits in transit total $30,000.How much was Conner's August 1,2010 cash balance on their bank statement?

Question

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Bank cash balance ($104,000) = Book balance ($90,000) + Outstanding checks ($44,000) - Deposits in transit ($30,000).

The Conner Company's August 1,2010 Cash Balance on Their Books