the month end bank statement showed a $42,600 ending balance for Hurry Corps cas

Question

the month end bank statement showed a $42,600 ending balance for Hurry Corps cash balance. use the following items to calculate the amount of Hurry's actual ending cash balance ("adjusted bank balance"):

The month-end bank statement showed a $42,600 ending balance for Hurry Corporation's cash balance. Use the following items to calculate the amount of Hurry's actual ending cash balance ("adjusted bank balance"): Outstanding Checks $4,240 Bank service fee $ 150 Deposit in Transit $ 780 $46,060 $39,140 $38,990 $46,210

Explanation / Answer

BALANCE AS PER BANK STATEMENT = 42600

LESS:-OUTSTNDING CHEQUES :- (4240)

LESS:-BANK SERVICE FEE :- (150)

ADD:-DEPOSIT IN TRANSIT :- 780

ACTUAL CASH BALANCE =38990

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