Question

Concord Company gathered the following reconciling information in preparing its July bank reconciliation:
Cash balance per books, 7/31 $21300
Deposits in transit 1100
Notes receivable and interest collected by bank 4340
Bank charge for check printing 80
Outstanding checks 7800
NSF check 730
The adjusted cash balance per books on July 31 is:____.
a. $25930.
b. $18130.
c. $17030.
d. $24830.

Answer 1

Answer:

d. $24830

Explanation:

Calculation to determine what The adjusted cash balance per books on July 31 is:

Using this formula

Adjusted cash balance per books on July =Cash balance + Note collected- Printing Charges - NSF check

Let plug in the formula

Adjusted cash balance per books on July=$21,300 + $4,340 - $80 -$730

Adjusted cash balance per books on July= $24,830

Therefore The adjusted cash balance per books on July 31 is:$24830