Question

Olde Shoppe has the following information at August​ 31: times Two deposits made on August 31 were not on the bank​ statement, totaling​ $5,300. times The bank collected an EFT payment on a note receivable for $ 2 comma 830. Of this​ amount, $ 150 represented interest on the note. times August 31 balance in Cash was $ 11 comma 667. times The bookkeeper forgot to record check​ #1578 for $ 643 which was cashed by the bank on August 15th. times The balance on the bank statement as of August 31 was $ 10 comma 730. times A check printing service fee of $ 80 was shown on the bank statement. times A NSF check of $ 100. times Checks​ #1572, 1606, and​ 1548, totaling​ $2,356, were not shown on the bank​ statement, even though the company had sent the checks. What is the adjusted book balance at August​ 31?

Answer 1

The adjusted book balance at August​ 31 is $13,824

Step-by-step explanation:

The computation of the book balance is shown below:

= Cash balance + EFT payment on a note receivable + interest on the note - forgot to record check - check printing service fee - NSF check

= $11,667 + $2,830 + $150 - $643 - $80 - $100

= $13,824

The remaining transactions would be adjusted to bank balance