Ask Question
7 June, 04:54

Urban Bloom, Inc.'s books show an ending cash balance of $18,000 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $5,400, deposits in transit of $3,600, NSF check of $180, and interest earned on the bank account of $18, the company's up-to-date ending cash balance equals:

A) $12,438.

B) $17,838.

C) $16,038.

D) $18,198.

+4
Answers (1)
  1. 7 June, 05:08
    0
    B) $17,838.

    Explanation:

    cash balance $18,000

    - NSF check ($180)

    + interest earned $18

    reconciled cash balance $17,838

    Outstanding checks ($5,400) and deposits in transit ($3,600) are used to reconcile bank statements, not the company's cash or book balance.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Urban Bloom, Inc.'s books show an ending cash balance of $18,000 before preparing the bank reconciliation. Given the bank reconciliation ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers