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What is the amount of cash that company should report

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Question - The bank statement for the Mini Mart Corporation shows a balance of $1,390 on June 30, but the company's cash in bank account had a balance of $450 on the same date. Comparison of the amounts reported on the bank statement with the company's records indicates (a) deposits of $130, representing cash receipts of June 30, that did not appear on the bank statement; (b) outstanding cheques totalling $260; (c) bank service charges for June amounting to $8; (d) collection of a note receivable by the bank on behalf of the company for $860 plus $43 in interest revenue; and (e) a cheque for $85 from a customer that was returned with the bank statement and marked NSF.

A bank reconciliation statement for Mini Mart Corporation as at June 30.

Journal entry worksheet

What is the amount of cash that company should report on its statement of financial position at June 30?

Reference no: EM132875461

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