Brangelina Adoption Agency’s general ledger shows a cash balance of $4,593. The balance of cash in the March-end bank statement

Question

3 years ago

9

Brangelina Adoption Agency’s general ledger shows a cash balance of $4,593. The balance of cash in the March-end bank statement

is $7,345. A review of the bank statement reveals the following information: checks outstanding of $2,803, bank service fees of $85, and interest earned of $34. Calculate the correct balance of cash at the end of March.

Business

1 answer:

aliya0001 [1] · Answer 1 · 2022-05-18T21:48:09+03:00

aliya0001 [1]3 years ago

5 0

Answer:

$4.542

Explanation:

Bank services fees must be included in balance, as well as interest earned, but checks outstanding no, because they arent paid yet.

So the correct calculation is:

$ 4.593 - $85 + $34 = $4.542