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Acme, Inc.'s books show an ending cash balance of $20,000 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $5,000, deposits in transit of $4,000, NSF check of $300, and interest earned on the bank account of $210, the company's up-to-date ending cash balance equals:

Respuesta :

Answer:

The up to date ending cash balance of the company will be $19,910

Explanation:

The up to date ending cash balance of the company is computed as:

Ending cash balance = Books shows ending cash Balance - (NSF check - Interest earned on bank account)

where

Books shows ending cash Balance is $20,000

And

= NSF check - Interest earned on bank account

= $300 - $210

= $90

Putting the values above:

= $20,000 - $90

= $19,910

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