Question
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 $3,732.20Add: NSF
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
$3,732.20Add: NSF check
485.00Less: Bank service charge
43.50
Adjusted balance per bank
$4,173.70
Cash balance per books
$4,030.20Less: Deposits in transit
574.50Add: Outstanding checks
805.00
Adjusted balance per books
$4,260.70
(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
$enter the proper adjusted cash balance per bank in dollars 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 the proper adjusted cash balance per books in dollars 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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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
