Question

The may bank statement for accounting services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. other information includes:____.

Answer 1

The adjusted cash balance at the end of August should be $8,180.

The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes the following:

-A check for $200 to pay the electric bill was recorded on the books as $20.

-Included on the bank statement was a note collected by the bank for $400 plus interest of $30.

-Checks outstanding totaled $260.

-Bank service charges were $50.

-Deposits in transit were $2,140.

The adjusted cash balance at the end of August should be

A. $7,980.

B. $9,810.

C. $7,620.

D. $8,180.

Solution:

$6,300 + 2,140 - 260 = $8,180.

$7,980 - 180 - 50 + 430 = $8,180

The adjusted cash balance at the end of August should be

D. $8,180.

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