On May 31, Money Corporation's Cash account showed a balance of $10,000 before the bank reconciliation was prepared. After examining the May bank statement and items included with it, the company's accountant found the following items: What is the amount of cash that should be reported in the company's balance sheet as of May 31?

Question

On May 31, Money Corporation's Cash account showed a balance of $10,000 before the bank reconciliation was prepared. After examining the May bank statement and items included with it, the company's accountant found the following items:  What is the amount of cash that should be reported in the company's balance sheet as of May 31?

Quizplus · Accepted Answer

Cash balance = $10,000 - $100 - $40 + $270 = $10,130.

On May 31, Money Corporation's Cash Account Showed a Balance