Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dorothy Sells is unable to reconcile the bank balance at January 31. Dorothy's reconciliation is shown here. Cash balance per bank Add: NSF check Less:
Dorothy Sells is unable to reconcile the bank balance at January 31. Dorothy's reconciliation is shown here. Cash balance per bank Add: NSF check Less: Bank service charge $3,712.20 610.00 44.50 Adjusted balance per bank $4,277.70 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,010.20 573.50 930.00 $4,366.70 (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 3355.70 (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) entered. Do not indent manually.) The proper adjusted cash balance per books 3355.70 $ (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 Date Account Titles and Explanation Debit Credit Jan. 31 (To record NSF check) Jan. 31 (To record bank service charge)
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