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Tasha Orin is not able to reconcile the bank balance at January 31. Tasha's reconciliation is shown here.

Cash balance per bank $3,677.20

Add: NSF check 450.00

Less: Bank service charge 28.00

Adjusted balance per bank $4,099.20

Cash balance per books $3,975.20

Less: Deposits in transit 590.00

Add: Outstanding checks 770.00

Adjusted balance per books $4,155.20

Instructions:

a) Determine the proper adjusted cash balance per bank?

b) Determine the proper adjusted cash balance per books?

c) Develop the adjusting journal entries essential to find out the adjusted cash balance per books.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M919219

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