The bank statement shows a balance of $1,000. Your books show a cash balance of $810. There is a deposit not shown of $300 and outstanding checks of $500. The bank charged $20 in fees and paid $10 in interest. What is the correct balance in your cash account?

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Exam content for CLEP Financial Accounting exam, which covers the basics of introductory financial accounting course: General Topics (20%–30%) Generally accepted accounting principles Rules of double-entry accounting/transaction analysis/accounting equation The accounting cycle Business ethics Purpose of, presentation of, and relationships between financial statements Forms of business The Income Statement (20%–30%) Presentation format issues Recognition of revenue and expenses Cost of goods sold Irregular items (e.g., discontinued operations, extraordinary items,... Show more

The bank statement shows a balance of $1,000. Your books show a cash balance of $810. There is a deposit not shown of $300 and outstanding checks of $500. The bank charged $20 in fees and paid $10 in interest. What is the correct balance in your cash account?






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