Connect MC Qu. 124 In the process of reconciling... In the process of reconcilin

Question

Connect MC Qu. 124 In the process of reconciling... 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 Deposits in transit at month-end Outstanding checks at month-end Bank charge for printing new checks Note receivable and interest collected by bank on Donahue's behalf A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 670 $6,180 $1,490 $810 $ 140 $ 580 The adjusted cash balance per the books on April 30 is: Multiple Choice $3.650 $7,970 $5.950 $6,620

Explanation / Answer

C. $5,950

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

= Book balance + Note collection & interest revenue - Bank charge for printing new checks - NSF check returned by bank

= $6,180 + $580 - $140 - $670

= $5,950

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