Helga Company prepares bank reconciliations that adjust to the correct balance o
ID: 2434931 • Letter: H
Question
Helga Company prepares bank reconciliations that adjust to the correct balance of cash, based on the following:
Cash balance per bank, 9/30
$16,000
Note receivable collected by bank
8,000
Outstanding checks
12,000
Deposits-in-transit
6,000
Bank service charge
100
NSF check
2,000
Using the above information, determine the cash balance per books (before adjustments) for Helga Company.
Cash balance per bank, 9/30
$16,000
Note receivable collected by bank
8,000
Outstanding checks
12,000
Deposits-in-transit
6,000
Bank service charge
100
NSF check
2,000
Explanation / Answer
Cash balance per bank 9/30 16,000 Add:Deposit in transit 6,000 22,000 less:outstanding checks 12,000 Adjusted bank balance 10,000 Adjusted cash balance 10,000 Add: Bank service charge 100 NSF Check 2,000 2,100 12,100 less: Note receivable collected by bank 8,000 Unadjusted cash balance 4,100 Cash balance per books (before adjustments ) = $4,100 answer
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