Question

Compute whiz company's adjusted cash balance per books based on the following information:

Beginning cash balance per books $4,200
deposit in transit 900
check printing charge 20
note collected by bank of Whiz 1,600

Answer 1

In this case, the adjusted cash balance per books is $6,680.

Step-by-step explanation:

To compute Whiz Company's adjusted cash balance per books, we need to take into account the following:

• Beginning cash balance per books: $4,200
• Deposit in transit: $900
• Check printing charge: $20
• Note collected by Bank of Whiz: $1,600

To calculate the adjusted cash balance per books, we need to add the deposits and subtract any debits that have been made from the cash balance:

• Beginning cash balance per books: $4,200
• Deposit in transit: $900
• Check printing charge: -$20 (a negative value since it is a debit)

Note collected by Bank of Whiz: $1,600

Now we can calculate the adjusted cash balance per books:

$4,200 + $900 - $20 + $1,600 = $6,680

Answer 2

Hey there!

Beginning: $4,200

Deposit in transit: not counted for ACB

Check printing charge: -$20

Note collected by bank of whiz: -$1,600

4,200 - 20 - 1,600 = 2,580

Adjusted cash balance = $2,580

Hope this helps!