In the process of reconciling its bank statement for April, Donahue Enterprises\

Question

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 S6, 260 $1,330 S 650 $ 60 $ 740 510 The adjusted cash balance per the books on April 30 is: Multiple Choice $5.810 $4,450 $6,430 $6.940

Explanation / Answer

Calculation of adjusted cash balance: Particulars Amount Cash Balance as per books 6260 Add: Deposits in transit 1330 Less:tanding checks 650 Adjusted cash balance(6260+1330-650) 6940 So correct answer is $6940

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