Question

At April 30, Windsor, Inc. has the following bank information: Cash balance per bank $5900 Outstanding checks $360 Deposits in transit $700 Credit memo for interest $15 Bank service charge $30 What is Windsor adjusted cash balance on April 30

Answer 1

Answer:

$6,240

Explanation:

The computation of the adjusted cash balance is shown below:

= Cash balance per bank - oustanding checks + deposit in transit

= $5,900 - $360 + $700

= $6,240

We simply applied the above formula so that the adjusted cash balance on April 30 could come

All other things would be ignored