Question

A company's general ledger shows a cash balance of $2,310. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as deposits outstanding of $1,780, note collected by the bank on the company's behalf of $1,300, and interest earned of $30. The company also finds an error by the bank of an additional deposit of $180. Calculate the correct balance of cash.

Answer 1

Answer:

    adjusted cash balance  3,640

Explanation:

cash accounting book value:  2,310

adjustment to reconciliate:

note collected                          1,300

interest earned                             30

      adjusted cash balance  3,640

notes:

the outstanding deposits and the bank mistkae aer adjustment that will be done by the bank. as we are given with the data of the company's cash balance we need to adjsut based o nthe information  the comapny's didin't know. Those are the note collected and the interst earned.