Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 7-6 Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown

image text in transcribed

image text in transcribed

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 7-6 Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown here Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $3,767.20 590.00 45.00 $4,312.20 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,065.20 573.00 910.00 $4,402.20 (a) What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per bank (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per books

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Theory And Practice

Authors: C. William Thomas, Bart Ward, Emerson Henke

3rd Edition

0534920748, 978-0534920746

More Books

Students also viewed these Accounting questions

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago