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Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown as follows. Cash balance per bank Add: NSF check
Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown as follows. Cash balance per bank Add: NSF check Less: Bank service charge Adjusted balance per bank $4,677.20 605.00 51.50 $5,230.70 Cash balance per books $4,975.20 Less: Deposits in transit 566.50 Add: Outstanding checks 925.00 Adjusted balance per books $5,333.70 (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 $ 4318.7 (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 $ 5333.70 (c) Prepare a tabular analysis for the adjustments required to reach the adjusted cash balance per books. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Assets = Liabilities + Stockholders' Cash Accts. Rec. + + Rev. Exp. (c) Prepare a tabular analysis for the adjustments required to reach the adjusted cash balance per books. Include margin explanations for the changes in revenues and expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) = Liabilities + Stockholders' Equity Accts. Rec. + Rev. Exp
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