Question

In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following...

In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information:

Cash balance per company books on April 30 $ 6,250
Deposits in transit at month-end $ 1,350
Outstanding checks at month-end $ 670
Bank charge for printing new checks $ 70
Note receivable and interest collected by bank on Donahue’s behalf $ 720
A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 530


The adjusted cash balance per the books on April 30 is:

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Answer #1

Answer:

The adjusted cash balance per the books on April 30 is:$6,370

Working notes for the above answer is as under

Cash balance per company books on April

$6,250

Less: Bank charge for printing new checks

($70)

Add: Note receivable and interest collected by bank on Donahue’s behalf

$720

Less: A check paid to Donahue during the month by a customer is returned by the bank as NSF

($530)

Adjusted cash balance as per books

$6,370

The adjusted cash balance per the books on April 30 is:$6,370

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