In preparing its bank reconciliation for the month of April 2014, Henke, Inc. has the following information available. What should be the correct balance of cash at April 30, 2014?

Question

In preparing its bank reconciliation for the month of April 2014, Henke, Inc. has the following information available.  What should be the correct balance of cash at April 30, 2014?

Quizplus · Accepted Answer

The correct balance of cash at April 30, 2014, can be calculated as follows:
Beginning balance: $33,190
Add deposits in transit: $7,360
Deduct outstanding checks: $6,610
Add/(Deduct) bank errors: $0
Ending balance: $33,940 (Option B)

In Preparing Its Bank Reconciliation for the Month of April