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Question 9.1: The following data were gathered to use in reconciling the bank account of Dewey Cheatem Associates, Monetarists: Balance per bank: 12,175 Balance per
Question 9.1: The following data were gathered to use in reconciling the bank account of Dewey Cheatem Associates, Monetarists: Balance per bank: 12,175 Balance per company records: 9,480 Bank service charge: 50 Deposit in transit: 1,800 NSF check: 1,250 Outstanding checks: 5,795 What is the adjusted balance on the bank reconciliation? Cash balance per bank statement Add: Deposits in transit Deduct: Outstanding checks Adjusted bank balance Cash balance per Cheatem books Add: Deduct: Bank service charges Bad checks Adjusted bank balance
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