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The following information pertains to Grey Co. on December 31, 17: Checkbook balance $12,000 Bank statement balance 16,000 Check drawn on Grey's account, payable to a vendor, dated and recorded 12/31/17 but not mailed until 1/10/18 1,800 On Grey's December 31, 17 balance sheet, what amount should be reported as cash?

Respuesta :

Answer:

$13,800

Explanation:

Given that

Checkbook balance =  $12,000

Bank statement balance = $16,000

Payable made to vendor = $1,800 but not mailed

So, the amount that is to be reported as a cash balance is shown below:

= Checkbook balance + Payable made to the vendor  

= $12,000 + $1,800

= $13,800

As we have to find out the cash balance so we ignored the bank statement balance