CMA Study Group

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  • 1.  Bank Statements

    Posted 10-11-2012 05:33 AM
    Dear Members,

    Pls advise on the answer.

    Dawson Corporation just received its bank statement for the month of May. This
    statement revealed that $2,500 of Dawson's deposits had not yet been recorded by the
    bank, outstanding checks totaled $1,500, a bank service charge of $100 had been
    assessed, and Dawson had erroneously recorded a check written for $1,000 as $100. As
    of May 31, Dawson's records indicated a cash balance of $40,500. The ending cash
    balance as of May 31 reported on the bank statement would have been
    a. $42,500.
    b. $41,100.
    c. $39,900.
    d. $38,500.
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    Harsh Mehta
    SAP FI Analyst
    Kuwait

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