Question

Grant Company gathered the following reconciling information in preparing its July bank reconciliation:
Cash balance per books, 7/31 $3,500
Deposits-in-transit 150
Notes receivable and interest
collected by bank 850
Bank charge for check printing 20
Outstanding checks 2,000
NSF check 170
The adjusted cash balance per books on July 31 is?

Answer 1

Answer:

The answer is $4,160

Explanation:

Cash balance per book contains the items already in the bank statement with the bank and not in the cash book with Grant company.

GRANT COMPANY

Adjusted cash balance per book July31

Cash balance per books $3,500

Notes receivable and interest

collected by bank. $850

Bank charge for check printing ($20)

NSF check ($170)

Adjusted cash balance per books $4,160