Question
Carol Sells is unable to reconcile the bank balance at January 31. Carols reconciliation is shown here. Cash balance per bank $4,567.20 Add: NSF check
Carol Sells is unable to reconcile the bank balance at January 31. Carols reconciliation is shown here.
Cash balance per bank $4,567.20
Add: NSF check 480.00
Less: Bank service charge 36.00
Adjusted balance per bank $5,011.20
Cash balance per books $4,865.20
Less: Deposits in transit 582.00
Add: Outstanding checks 800.00
Adjusted balance per books $5,083.20
(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 $Enter a dollar amount rounded to 2 decimal places
(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 $Enter a dollar amount rounded to 2 decimal places
(c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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