In preparing its bank reconciliation for the month of April 2018, Haskins, Inc. has available the...
In preparing its bank reconciliation for the month of April 2018, Haskins, Inc. has available the following information.
Balance per bank statement, 4/30/18 $40,920
NSF check returned with 4/30/18 bank statement 1,350
Deposits in transit, 4/30/18 10,500
Outstanding checks, 4/30/18 15,600
Bank service charges for April 60
What should be the adjusted cash balance at April 30, 2018?
Homework Answers
Computation the adjusted balance of cash at April 30, 2018:
Adjusted balance of cash = Balance of cash as per bank on April 30, 2018 - Value of outstanding checks on April 30, 2018 + Value of deposits on April 30, 2018
= $40,920 - $15,600 + $10,500
= $35,820
Hence, the adjusted balance of cash is $35,820.
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