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Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end...

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Accounting

Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,360 and the bank statement showed a bank balance of $1,445. Outstanding checks totaled $350 and deposits in transit were $150. The bank statement listed service charges of $30 and NSF checks totaling $85. The corrected cash balance is:

Multiple Choice

  • $1,130.

  • $1,245.

  • $1,160.

  • $1,445.

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