Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown...
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Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here. Cash balance per bank $4,297.20 Add: NSF check 595.00 Less: Bank service charge 51.50 Adjusted balance per bank $4,840.70 Cash balance per books $4,595.20 Less: Deposits transit 566.50 Add: Outstanding checks 915.00 Adjusted balance per books $4,943.70 (a) What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per bank (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per books $4 (c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here. Cash balance per bank $4,297.20 Add: NSF check 595.00 Less: Bank service charge 51.50 Adjusted balance per bank $4,840.70 Cash balance per books $4,595.20 Less: Deposits transit 566.50 Add: Outstanding checks 915.00 Adjusted balance per books $4,943.70 (a) What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per bank (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per books $4 (c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Expert Answer:
Answer rating: 100% (QA)
Cash balance per Bank 429720 Add Deposit in transit 56650 Less Outstandin... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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