The April 30 Bank Statement for Trimble Corporation Shows an Ending

question 54

Multiple Choice

The April 30 bank statement for Trimble Corporation shows an ending balance of $35,192. The unadjusted cash account balance was $29,150. The accountant for Trimble gathered the following information:There was a deposit in transit for $4,406.The bank statement reports a service charge of $59.A credit memo included in the bank statement shows interest earned of $215.Outstanding checks totaled $11,362.The bank statement included a $1,070 NSF check deposited in April.What is the true cash balance as of April 30?

• A)$27,166
• B)$28,236
• C)$32,427
• D)$32,642

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Definitions:

Accounts Payable

Liabilities of a business that are owed to creditors, typically for purchases of goods and services.

Notes Payable

Short-term or long-term liabilities that a business promises to pay by a specified date, usually in the form of written promissory notes.

Annual Reports

These are comprehensive reports on a company's activities throughout the preceding year, intended to provide shareholders and other interested people with information about the company's financial performance.

Finance Professionals

Individuals with expertise in managing money, including activities like investment, analysis, planning, and advisory services.