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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 $3,767.20 590.00 45.00 $4,312.20 Cash balance per books $4,065.20 Less: Deposits in transit 573.00 Add: Outstanding checks 910.00 Adjusted balance per books $4,402.20 (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 $ 3430.20 (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, eg. 52.75.) The proper adjusted cash balance per books $ 3430.20 (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 for 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' Equity Accts. Rec. Cash Rev. Exp. 590 590 45 45 Miscellaneous expense
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