Question

At April 30, Marigold Corp. has the following bank information: Cash balance per bank $5400 Outstanding checks $330 Deposits in transit $650 Credit memo for interest $10 Bank service charge $20 What is Marigold adjusted cash balance on April 30

Answer 1

$5,720

Step-by-step explanation:

Calculation to determine What is Marigold adjusted cash balance on April 30

MARIGOLD CORP Adjusted cash balance on April 30

Cash balance per bank $5400

Less:Outstanding checks ($330)

Add: Deposit in transit $650

Adjusted cash balance. $5720

($5400-$330+$650)

Therefore Marigold adjusted cash balance on April 30 is $5,720