Question
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:
| Cash balance per company books on January 30 | $ | 7,025 |
| Deposits in transit at month-end | $ | 2,260 |
| Outstanding checks at month-end | $ | 750 |
| Bank service charges | $ | 48 |
| EFT automatically deducted monthly, not yet recorded by Maxi | $ | 840 |
| An NSF check returned on a customer account | $ | 495 |
The adjusted cash balance per the books on January 31 is:
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
14th Canadian edition
134613112, 134835018, 9780134885254 , 978-0134613116
