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Problem:

The following information is needed to reconcile the cash balance for Fire Steel Inc.

• A deposit of $5,800 is in transit.

• Outstanding checks total $1,500.

• The book balance is $6,800 at February 28, 2013.

• The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.

• The bank balance at February 28, 2013 was $18,000.

• A deposit of $400 was credited by the bank for $4,000.

• A customer's check for $3,700 was returned for nonsufficient funds.

• The bank service charge is $60.

Required:

Question: What was the adjusted bank balance?

Note: Please show guided help with steps and answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165835

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