Question

In preparing its June 30, 2013 bank reconciliation, a company has available the following information: Balance per bank statement, June 30 $27,650 Deposit in transit, June 30 3,900 Return of customer's check not sufficient funds 600 Outstanding checks as of June 20 2,750 Bank service charges for June 175 As of June 30, the company's adjusted cash balance is:

Answer 1

$28,800

Step-by-step explanation:

The computation is shown below:

Adjusted cash balance = Balance per bank statement, June 30 + Deposit in transit, June 30 - Outstanding checks as of June 20

= $27,650 + $3,900 - $2,750

= $28,800

Simply we added the deposits and deducted the outstanding checks to the balance as per bank statement

All other information which is given is not relevant. Hence, ignored it