Reference no: EM132600190

Question - Hera Company provided the following information:

Balance per bank statement, May 31 1,300,000 Balance per book - May 31 1,405,000

Deposits outstanding 150,000 Bank service charge (5,000)

Checks outstanding (50,000)

Correct bank balance-May 31 1,400,000 Correct book balance-May 31 1,400,000

June data are as follows: Bank Book

Checks recorded 1,100,000 1,250,000

Deposits recorded 800,000 900,000

Service charges recorded 25,000 -

Note collected by bank, P 250,000 plus interest 275,000

NSF checks returned with June 30 statement 50,000

Balances 1,200,000 1,050,000

What is the adjusted cash balance on June 30?

a. 1,200,000

b. 1,250,000

c. 1,050,000

d. 1,400,000

e. Answer not given