Answer:
Adjusted balance per bank reconciliation $ 24,295
Explanation:
Computation of adjusted balance per bank reconciliation
Balance per bank statement $ 25,750
Add: Deposits in transit $ 2,300
Less: Outstanding checks <u>$ ( 3,755)</u>
Adjusted balance per bank statement $ 24,295
Balance per cash book $ 19,140
Less: Bank Service Charges $ ( 45)
Add: Note collected by bank <u> $ 5,200</u>
Adjusted balance per cash book $ 24,295
The deposits in transit and the outstanding checks have not been incorporated in the bank statement so adjusted to the bank statement balance
The bank service charges and the direct collection by the bank of the note receivable have not been incorporated in the cash book hence adjusted.
