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13. Rielle Corp.'s unadjusted bank balance as of October 31, 2019 is $34,300. A review of...

13. Rielle Corp.'s unadjusted bank balance as of October 31, 2019 is $34,300. A review of the October bank statement and the cash account activity reveals the following

Outstanding checks $3,750

Unadjusted book balance, 10/31 28,640

Bank charges, October 40

Deposits in transit 10,625

Bank collections of A/R 13,750

NSF check written by one

Rielle’s customers 1,175

Based on this information, what is Rielle's true cash balance as of October 31, 2019?

  1. $44,925

  2. $32,350

  3. $27,425

  4. $41,175

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Answer #1
Unadjusted bank balance 34300
Add: Deposits in transit 10625
Less: Outstanding checks -3750
True cash balance as of October 31, 2019 41175
Option D $41,175 is correct
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