Music School received its monthly bank statement showing a balance of $27,639 Credit at 31 January....
Music School received its monthly bank statement showing a balance of $27,639 Credit at 31 January. On this date cash received from students and not yet deposited at the bank totalled $851 and outstanding cheques were $4,320. The amount to appear as cash at bank on the 31 January balance sheet is:
Homework Answers
Answer: $24,170
.
| Working note - Calculation of cash balance at January 31 | |
| Cash balance as per bank Statement | $27,639 |
| Add: Amount not yet deposited at the bank | $851 |
| $28,490 | |
| Less: Outstanding Checks [Checks not yet processed by the bank] | $4,320 |
| Cash balance at January 31 | $24,170 |
Add Answer to:
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