What should be the adjusted cash balance at March 31, 2013?
Bob Company has the following records available when preparing its bank reconciliation for the month of March 2013:
Balance per bank statement, 3/31/13 : $18,000
NSF check returned with 3/31/13 bank statement : 290
Deposits in transit, 3/31/13 : 3,000
Outstanding checks, 3/31/13 : 2,400
Bank service charges for March: 20
What should be the adjusted cash balance at March 31, 2013?
Homework Answers
| Particulars | Amount$ |
| Balance as per bank statement | 18,000 |
| Add : NSF Check | 290 |
| Add : Deposit in transit | 3,000 |
| Less : Outstanding check | 2,400 |
| Add : Bank service charge | 20 |
| Adjusted cash balance | 18,910 |
Therefore, Adjusted cash balance at March 31 is $18,910
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