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Findlay, Inc.s April bank statement shows an April 30 balance of $10,240. Prior to reconciliation, its books show a cash balance of $11,020. The information below pertains to Findlay, Inc.Deposits in transit$1,600 Checks outstanding930Bank service charge20Error in Findlay's records understating cash disbursement 360Check of another company charged erroneously against Findlay's bank account230Bank statement shows bank collected a note receivable and interest income for Findlay 500The reconciled cash balance at April 30 on the bank reconciliation should be:Question 1 options:A) $10,9108) $9,340C) $11, 140D) $12,070

Findlay, Inc.s April bank statement shows an April 30 balance of $10,240. Prior to reconciliation, its books show a cash balance of $11,020. The information below pertains to Findlay, Inc.Deposits in transit$1,600 Checks outstanding930Bank service charge20Error in Findlay's records understating cash disbursement 360Check of another company charged erroneously against Findlay's bank account230Bank statement shows bank collected a note receivable and interest income for Findlay 500The reconciled cash balance at April 30 on the bank reconciliation should be:Question 1 options:A) $10,9108) $9,340C) $11, 140D) $12,070

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 19E
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Findlay, Inc.s April bank statement shows an April 30 balance of $10,240. Prior to reconciliation, its books show a cash balance of $11,020. The information below pertains to Findlay, Inc.Deposits in transit$1,600 Checks outstanding930Bank service charge20Error in Findlay's records understating cash disbursement 360Check of another company charged erroneously against Findlay's bank account230Bank statement shows bank collected a note receivable and interest income for Findlay 500The reconciled cash balance at April 30 on the bank reconciliation should be:Question 1 options:A) $10,9108) $9,340C) $11, 140D) $12,070
Transcribed Image Text:Findlay, Inc.s April bank statement shows an April 30 balance of $10,240. Prior to reconciliation, its books show a cash balance of $11,020. The information below pertains to Findlay, Inc.Deposits in transit$1,600 Checks outstanding930Bank service charge20Error in Findlay's records understating cash disbursement 360Check of another company charged erroneously against Findlay's bank account230Bank statement shows bank collected a note receivable and interest income for Findlay 500The reconciled cash balance at April 30 on the bank reconciliation should be:Question 1 options:A) $10,9108) $9,340C) $11, 140D) $12,070
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