Question
E7-4B Jim Parkus is unable to reconcile the bank balance at January 31. Jims reconciliation is shown here. Cash balance per bank $3,660.20 Add: NSF
E7-4B Jim Parkus is unable to reconcile the bank balance at January 31. Jims reconciliation
is shown here.
Cash balance per bank $3,660.20
Add: NSF check 570.00
Less: Bank service charge 25.00
Adjusted balance per bank $4,205.20
Cash balance per books $3,975.20
Less: Deposits in transit 590.00
Add: Outstanding checks 870.00
Adjusted balance per books $4,255.20
Instructions
(a) What is the proper adjusted cash balance per bank?
(b) What is the proper adjusted cash balance per books?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
