A company has a cash balance in their general ledger of "$4,000". On the bank statement they just received they see the following items: a note collected by the bank from their customer for $1,000 plus $40 in interest, bank service charges of $20 and a NSF check from a customer for $300. What should the CORRECT balance in the general ledger cash account be?

Current balance in the general ledger cash account is $5,320

Explanation:

                                                      General ledger

Opening balance                                $4,000

(Add)

A note collected by a customer         $1,000

interest collected by a customer            $40

NSF check from a customer                  $300.

                                                           ------------------

                                                              $5,340

(Less) bank service charges                     $20

                                                             ---------------

Balance in the general ledger

cash account is                                      $5,320

current balance in the ledger cash account =

( $4,000+ $1000+ $40+ $300- $20= $5320)

Main route:

Smelting --> Rolling --> Converting --> Sheared Sheet

Secondary route     -->

Smelting --> Rolling -->  rolled sheet

1) Smelting trasnferred materials into Rolling

2) It will be part of that department work in process inventory

"WIP SConverting debit then factorty overhead credit"

Later it will be transferred out as a complete process therefore,

Finished good Inventory - Shared sheet

3) the Smelting department transfer the entire of his output into Rolling department

4) the finished good will become cost of good solg once they are sold.

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Explanation:

We have to read he description of how the processing system works and check to whichdeparmtent are the goods being transferred or sold.