Question

In preparing its bank reconciliation for the month of April 2018, Crane, Inc. has available the following information. Balance per bank statement, 4/30/18 $78200 NSF check returned with 4/30/18 bank statement 950 Deposits in transit, 4/30/18 9600 Outstanding checks, 4/30/18 10300 Bank service charges for April 50 What should be the adjusted cash balance at April 30, 2018

Answer 1

the adjusted cash balance is $77,500

Step-by-step explanation:

The computation of the adjusted cash balance is shown below:

Adjusted cash balance = balance pler bank statement + deposit in transit - outstanding checks

= $78,200 + 9,600 - 10,300

= $77,500

Hence, the adjusted cash balance is $77,500

The same should be considered and relevant