Question

The following data apply to Pro Beauty Supply Inc. for May 2016: 1. Balance per the...

The following data apply to Pro Beauty Supply Inc. for May 2016:
1. Balance per the bank on May 31, $11,080.
2. Deposits in transit not recorded by the bank, $2,400.
3.

Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply’s account, $700.
4.

The following checks written and recorded by Pro Beauty Supply were not included in the bank statement:
  3013 $ 110
  3054 530
  3056 1,700  
5. Note collected by the bank $750.
6. Service charge for collection of note, $24.
7.

The bookkeeper recorded a check written for $628 to pay for the May utilities expense as $538 in the cash disbursements journal.
8. Bank service charge in addition to the note collection fee, $25.
9. Customer checks returned by the bank as NSF, $138.
Required:

Determine the amount of the unadjusted cash balance per Pro Beauty Supply’s books.
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Homework Answers

Answer #1
unadjusted bank balance 11,080
Add:
Deposits in transit 2,400
Error in recording 700
3,100
14,180
less:
Checks oustanding
3013 110
3054 530
30560 1,700
2,340
Adjusted bank balance 11,840
Adjusted cash balance 11,840
Add:
Service charge 25
Error in recording (628-538) 90
NSF 138
253
12,093
less:
note collection (750-24) 726
Unadjusted bank balance 11,367 answer
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