Sally Rice is unable to reconcile the bank balance at January 31. Sallys reconciliation is shown here.

Question:

Sally Rice is unable to reconcile the bank balance at January 31. Sally’s reconciliation is shown here.

Cash balance per bank........... $3,677.20

Add: NSF check............ 450.00

Less: Bank service charge........... 28.00

Adjusted balance per bank........ $4,099.20

Cash balance per books.......... $3,975.20

Less: Deposits in transit.......... 590.00

Add: Outstanding checks........ 770.00

Adjusted balance per books....... $4,155.20

Instructions

(a) What is the proper adjusted cash balance per bank?

(b) What is the proper adjusted cash balance per books?

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a Cash balance per bank statement 367720 Add Deposits in transit 59...View the full answer

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Apr 07, 2014 10:19 AM

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Sally Rice is unable to reconcile the bank balance at January 31. Sallys reconciliation is shown here.

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a Cash balance per bank statement 367720 Add Deposits in transit 59...View the full answer

Accounting Tools for Business Decision Making

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