Question

Splish Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Balance, August 1 Deposits during August Note collected for depositor, including $60 interest Checks cleared during August Bank service charges Balance, August 31 Disbursements Receipts Balance $13.950 $47,946 61,896 1,549 63.445 $51,370 12,075 30 12.045 12.045 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 1 4,964 Disbursements in August 51,978 Receipts during August 52,115 Deposits in transit at August 31 are $5.658, and checks outstanding at August 31 total $1,563. Cash on hand at August 31 is $462. The bookkeeper improperly entered one check in the books at $147 which was written for $165 for supplies (expense); it cleared the bank during the month of August.

i just need the cash to be repoted in the august 31 balance sheet!!!!!

thank you

Answer 1

Answer : Cash to be reported in the August 31 balance sheet = $16,140

Explanation :

Cash to be reported in the August 31 balance sheet = Adjusted Balance per book in bank reconciliation

Balance per books ($14,964 + $52,115 - $51,978 - $462)	$14,639
Less : Correction of Check ($165 - $147)	($18)
Less : Bank service charges	($30)
Add: Note collection plus interest	$1,549
Adjusted Balance per book	$16,140