Calculate the adjusted cash balance per the books of XYZ Co. given the following information. Item Amount Balance per bank statement $600 Balance per cash account book balance 710 Deposit in transit 200 Note collected by the bank on behalf of the depositor 80 Monthly bank charges 40 Outstanding checks 50.

Answer rating: 100% (QA)

To calculate the adjusted cash balance per the books of XYZ Co we need to consider the following adj... View the full answer