(Answered) : Consider the following: Cash in Bank – checking account of $18700, Cash on hand of $450, Post-dated checks received totaling $

Consider the following: Cash in Bank – checking account of $18700, Cash on hand of $450, Post-dated checks received totaling $3330, and Certificates of deposit totaling $120000. How much should be reported as cash in the balance sheet?

$18700.
$22480.
$19150.
$132097
If the month-end bank statement shows a balance of $148000, outstanding checks are $48000, a deposit of $17000 was in transit at month end, and a check for $2300 was erroneously charged by the bank against the account, the correct balance in the cash account at month end is

$119300.
$114700.
$85300.
$176700.

Expert Answer

Answer to Question 1.

Cash Balance to be reported in Balance Sheet

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