Question

The Cash account in the ledger of Clear Windows shows a balance of $12,596 at September 30. The bank statement, however, shows a balance of $16,253 at the same date. The only reconciling items consist of a bank service charge of $16, a large number of outstanding checks totaling $6,740, and a deposit in transit. Refer to the information above. What is the adjusted cash balance in the September 30 bank reconciliation

Answer 1

Adjusted Cash Balance $ 12,596

Step-by-step explanation:

September 30 Cash account balance$12,596

September 30 Bank statement, balance $16,253

September 30 Difference in balances $3657

Clear Windows

Bank Reconciliation Statement

September 30 Bank statement, balance $16,253

less Outstanding checks $6,740,

Less Bank service charge $16,

Add Deposit in Transit $ 3099

September 30 Cash account balance $ 12,596

Adjusted Cash Balance is the same as the cash book balance.

We start from the bank balance , dot the necessary adjustments and get the same cash book balance.