Mojo Ltd received its monthly bank statement showing a balance of $27 629 Cr at 31 January. On this date cash received from ratepayers and not yet deposited at the bank totalled $4321 and outstanding cheques were $857. The amount to appear as cash at bank on the 31 January balance sheet is:

Question

Quizplus · Accepted Answer

The cash at bank balance is calculated by adding the cash received but not yet deposited ($4321) to the bank statement balance ($27,629) and then subtracting the outstanding cheques ($857). This results in $31,093.

Mojo Ltd Received Its Monthly Bank Statement Showing a Balance