If the Month-End Bank Statement Shows a Balance of ¥720,000

question 174

Multiple Choice

If the month-end bank statement shows a balance of ¥720,000, outstanding checks are ¥240,000, a deposit of ¥80,000 was in transit at month end, and a check for ¥10,000 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is

• A) ¥550,000.
• B) ¥570,000.
• C) ¥410,000.
• D) ¥870,000.