Question

Meredith Company gathered the following reconciling information in preparing its May bank reconciliation: Cash balance per...

Meredith Company gathered the following reconciling information in preparing its May bank reconciliation:

Cash balance per books, 5/31 $3,414
Deposits in transit 113
Notes receivable and interest collected by bank 910
Bank charge for check printing 37
Outstanding checks 1,480
NSF check 169

Find the adjusted cash balance per books on May 31.

Select the correct answer.

$2,788

$1,023

$4,118

$2,047

Homework Answers

Answer #1

Answer: $4,118

Explanation

Calculation of adjusted cash balance per books on May 31
$
Cash balance per books, May 31       3,414.00
Add: Notes receivable and interest collected by bank          910.00
      4,324.00
Less:
Bank charge for check printing          (37.00)
NSF Check        (169.00)
Adjusted cash balance per books on May 31 4,118.00
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