The May Bank Statement for Accounting Services Shows a Balance

question 44

Multiple Choice

The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes 1. A cheque for $200 to pay the electric bill was recorded on the books as $20.
2) Included on the bank statement was a note collected by the bank for $300 plus interest of $30.
3) Cheques outstanding totaled $360.
4) Bank service charges were $50.
5) Deposits in transit were $2,140.
Which item(s) should be subtracted from the balance per books?

• A) Bank service charge
• B) Cheques outstanding and bank service charge
• C) Bank service charge and the note collected by the bank
• D) None of the above are correct.

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