Adjusted cash balance = Cash balance per books - Bank service charge
= 25,000 - 50
= $24,950
Adjusted cash balance | 24,950 |
Outstanding check | 2,000 |
26,950 | |
Deposit in transit | - 3,000 |
Cash balance per bank statement | $23,950 |
Cash balance per bank statement = $23,950
Correct option is (D)
Cash balance to be reported on May 31 Balance sheet = $$24,950
Correct option is (A)
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A company general ledger shows a checking account balance of
$22,820 on July 31, Year 1. The July cash receipts of $1,735,
included in the general ledger balance, are placed in the night
depository at the bank on July 31 and processed by the bank on
August 1. The bank statement dated July 31 shows bank service fees
of $40. The bank processes all checks written by the company by
July 31 and lists them on the bank statement, except...
1-5 please
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