Your examination of the records of a company that follows the cash basis of accounting tells you that the c?

Something doesn't seem correct - you say that clerk stole $$$; therefore, you would expect the general ledger balance to be HIGHER than the reconciled bank balance (bank balance less outstanding checks plus deposits in transit). This assumes that the daily cash receipts are recorded in the general ledger by November 30, 2008 in this example. Rounded, reconciled bank balance is $22K - 6K = $16K, but you say the general ledger balance is only $12K. Double-check the question again and let me know; your fact pattern makes no sense given the fact that you want to know how much was stolen. RESPONSE TO NICK - the fact pattern does NOT say that a note receivable was accepted in November in payment of a sale; I would agree with you IF it said that, but it did not!!! These accounting 101 questions are horribly worded!! I just wanted clarification as to the question...after you've been a CPA for 20 years, THEN reread this question and see how terrible this reads!!!

Hahaha awesome I'm looking for the same exact answer. **** makes no sense. Update..... The answer is 34980. Start with 33640 3400 - 2800 = +600 1300 - 1160 = +140 2400 - 200 = +400 1600 - 1400 = +200 =$34980 It still doesn't make sense to me, but at this point (2:21 AM), I really could care less.