A bank statement shows a balance of 5630 at june 30. bank, Ask an Expert

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problem: A bank statement shows a balance of $5,630 at June 30. Bank reconciliation is created and includes outstanding checks of $1,860, deposits in transit of $950, & a bank service charge of $20. Among the paid checks returned by bank was check no. 960 in the amount of $400, which the firm had erroneously recorded in the accounting records as $40. Determine the “adjusted cash balance” at June 30.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921648

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