Skip to main content
J

Jakob Littel

Feb 20, 2025

Adjusted cash balances?

Leng Xiong is unable to reconcile the bank balance at January 31. Leng’s reconciliationis shown here.Instructions(a) What is the proper adjusted cash balance per bank? (b) What is the proper adjusted cash balance per books? (c) Prepare the adjusting journal entries necessary to determine the adjusted cash balanceper books.Cash balance per bank $3,660.20Add: NSF check 370.00Less: Bank service charge 25.00 Adjusted balance per bank $4,005.20Cash balance per books $3,975.20Less: Deposits in transit 590.00Add: Outstanding checks 670.00Adjusted balance per books $4,055.20

1 Answers

H
Hermina Ferry

Feb 20, 2025

(a) What is the proper adjusted cash balance per bank?Cash balance per bank $3,660.20Add: Deposits in transit 590.00Less: Outstanding checks 670.00adjusted cash balance per bank $3,580.20(b) What is the proper adjusted cash balance per books?Cash balance per books $3,975.20Less: NSF check 370.00Less: Bank service charge 25.00adjusted cash balance per books $3,580.20(c) Prepare the adjusting journal entries necessary to determine the adjusted cash balance per booksDr AR 370Cr Cash 370Dr Bank charges 25Cr Cash 25... Show More

Want to answer this question?

Join our community to share your knowledge!

Categories

Tags

Related Questions

2
ADL Health Covid Test?

I’m traveling to Maui and need a covid test. I am flying with United Airlines and they provide a mail in test with ADL H...

10
Adna strand has the sequence gttccagag. which is the complementary strand of rna?

Adna strand has the sequence gttccagag. which is the complementary strand of rna?

8
Adult World? what are those rooms in the back for?

If you are just going to tell me this is immature, don’t waste your time.So, me and some friends went to Adult World one...

4
advantages and disadvantages of freedom of speech?

Individual rights versus public order

1
Advice for growing and making my own mint tea?

I bought a sweet mint plant at Walmart a few days ago. I’ve planted it in a larger pot about 9″ in diameter and 5.25″ hi...

1
Advice for the Quarterback question?

A quarterback is set up to throw the football to a receiver who is running with a constant velocity Vr directly away fro...

1
Advice for working in a call center?

I have Aspergers Syndrome which means I have difficulties with social interactions. I’m about to graduate law school and...

6
Advice on relocating from England to Spain?

My partner and I want to move permanently to Spain. This is not something we have decided overnight. We do not speak Spa...

10
Afarmer places unhatched chicken eggs under a heat lamp. how does the radiation the eggs?

Afarmer places unhatched chicken eggs under a heat lamp. how does the radiation the eggs? it keeps the area around the e...

6
After 15 minutes, 30 g of a sample of polonium-218 remain unchanged. if the original sample had a mass of 960 g, what is the half-life

After 15 minutes, 30 g of a sample of polonium-218 remain unchanged. if the original sample had a mass of 960 g, what is...