Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carl Nickloas Company prepares bank reconciliations that adjust to the correct balance of cash, based on the following: Outstanding checks $1,062 Note collected for Carl
Carl Nickloas Company prepares bank reconciliations that adjust to the correct balance of cash, based on the following:
| Outstanding checks | $1,062 |
| Note collected for Carl Nickolas by bank | 3,300 |
| Bank service charges | 162 |
| Check written for $482 incorrectly recorded in books at | |
| $428; check cleared the bank for $482 | 54 |
| NSF check | 492 |
| Unadjusted book balance | 19,794 |
| Deposits in transit | 1,152 |
Determine the adjusted cash balance.
Select one:
A. $22,494
B. $23,448
C. $22,386
D. $21,324
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Energy Audits And Improvements For Commercial Buildings
Authors: Ian M. Shapiro
1st Edition
1119084164, 978-1119084167
