Question
Jamie Company has the following information for their bank reconciliation: Cash Balance from Bank Statement$20,256.46 Cash Balance from Financial Statements$21,300.00 NSF check returned with bank
Jamie Company has the following information for their bank reconciliation:
Cash Balance from Bank Statement$20,256.46
Cash Balance from Financial Statements$21,300.00
NSF check returned with bank statement$100.00
Note Collected by bank (not recorded by company yet)$500.00
Interest on Note Collected by Bank (not recorded by company yet)$30.00
Bank Service Charge (not recorded by company yet)$50.00
Outstanding Checks$376.46
Deposits in Transit$1,800.00
What is the correct adjusted cash balance for this company?
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
Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
