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2020年USCPA模擬題33：Financial
學習至重要的就是打好基礎，要想基礎打得好，就要做大量的習題。只有做題才能讓抽象的法條變得具象化、變得立體起來，所以正保會計網校貼心的為大家準備了2020年USCPA模擬題33：Financial，小編相信，每天的勤奮練習，考過AICPA絕對不在話下！
Hilltop Co.'s monthly bank statement shows a balance of $54,200. Reconciliation of the statement with company books reveals the following information:
Check deposited by Hilltop and cleared by the bank for $125 but improperly recorded by Hilltop as $152
What is the net cash balance after the reconciliation?
A. $52,363
B. $53,023
C. $53,050
D. $53,077
Explanation
Choice "C" is correct. This fact pattern provided us with the balance per the bank statement of $54,200. There are only two reconciling items for the balance per the bank statement, ignoring bank errors, and these are deposits in transit and outstanding checks. Any other reconciling items, namely service charges, NSF checks, credit memos (customer collections via wire transfer), interest income, and errors made by the company are only reconciling items to the balance per the books or general ledger balance, and this balance was not provided here. Therefore, starting with the $54,200, the only two things we can do are to add the deposits in transit of $350 and subtract the outstanding checks of $1,500. This yields us a corrected or adjusted cash balance of $53,050.
Choices "A", "B", and "D" are incorrect. The bank service charge, NSF check, and recording error are only reconciling items to the book, or GL, balance, but the examiners did not provide us with this amount.
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