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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.

Respuesta :

Answer:

a. $19,800

Explanation:

The computation of the correct cash balance is shown below:

= Balance per bank statement + Deposit in transit - Outstanding checks

= $18,650 + $3,900 - $2,750

= $19,800

We simply added the deposits and deducted the outstanding checks to the bank balance so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

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