In Preparing Its Bank Reconciliation for the Month of April

question 126

Multiple Choice

In preparing its bank reconciliation for the month of April 2010, Henke, Inc.has available the following information. What should be the correct balance of cash at April 30, 2010?

• A)$39,370
• B)$38,940
• C)$38,490
• D)$38,470

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Definitions:

Basic Accounting Equation

The fundamental principle of accounting: Assets = Liabilities + Equity, reflecting the balance of a company's financial position.

Internal Transactions

Financial activities that occur within an organization, affecting the internal accounts without involving any external entity.

Chronological Diary

A record of events or transactions arranged in the order of time occurrence, often used for maintaining personal or financial information.

Economic Events

Transactions and occurrences that affect the financial position of an organization, which can be measured and recorded.