On may 31, money corporation's cash account showed a balance of $16,000 before the bank reconciliation was prepared. after examining the may bank statement and items included with it, the company's accountant found the following items: checks outstanding$2,950 deposits outstanding $2,500 nsf check $240 service charges $80 error: money corp. wrote a check for $80 but recorded it incorrectly for $800. what is the amount of cash that should be reported in the company's balance sheet as of may 31?

cash balance tobe reported in the balance sheet 16,880

Explanation:

cash account   16,000

NSF check            240

service charge      (80)

amend mistake:    720

adjusted:          16,880‬

the check oustanding and the deposits in-transit are adjustment for the bank balance. not the firm cash accounting

We must look for data which wasn't know until receive the bank statement.

Those are:

the non-sufficient funds

the service charge

and the accounting mistake

answer; i believe the correct answer is (4.0);

answer; ///deficit;