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Solve Question 6 (3 ticks) 6. The following information is available for Happy Company:  The...

Solve Question 6 (3 ticks)
6. The following information is available for Happy Company:
 The 31 January bank statement shows a RM1,895 balance.
 The Cash account shows a RM1,742 balance on 31 January.
 A RM795 late deposit does not appear on the 31 January bank statement.
 Outstanding cheques amount to RM638 at 31 January.
 A customer’s RM335 note receivable was collected by the bank in January. A fee of
RM15 was deducted by the bank and the difference was deposited into the company’s
account.
 A service charge of RM10 is deducted by the bank and appears on the January bank
statement.
What is the adjusted cash account balance?

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Homework Answers

Answer #1
Statement of adjusted cash
Balance on 31st January    1,742.00
Cash deposit ommited     (795.00)
Adjusted Balance       947.00
Statement of adjusted bank
Balance on 31st January    1,895.00
Cash deposit ommited       795.00
Ountsanding cheque     (638.00)
Note receivable collected       320.00
Bank charges       (10.00)
Adjusted Balance    2,362.00
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