Question

The ending bank statement balance at November 30 is $7,650. The bank statement shows a service charge of $65​, electronic funds receipts of​ $500, and a NSF check for​ $350. Deposits in transit total $2,050 and outstanding checks are $1,435. The balance per books at November 30 is $8,180. What is the adjusted bank balance at November​ 30?

Answer 1

the adjusted bank balance at November​ 30 is $8,265.

Step-by-step explanation:

Prepare an Amended Cash Book as follows :

Cash Book - Bank Balance

Debit :

Balance before adjustments $8,180

Electronic funds receipts $500

Totals $8,680

Credit :

Service charge $65

Dishonored Check (NSF) $350

Updated Bank Balance $8,265

Totals $8,680