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

Question

The following data apply to Pro Beauty Supply Inc. for May 2016: 1. Balance per the bank on May 31, $13,185. 2. Deposits in transit not recorded by the bank, $1,530. 3. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply’s account, $650. 4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement: 3013 $ 155 3054 450 3056 1,310 5. Note collected by the bank $850. 6. Service charge for collection of note, $17. 7. The bookkeeper recorded a check written for $662 to pay for the May utilities expense as $572 in the cash disbursements journal. 8. Bank service charge in addition to the note collection fee, $30. 9. Customer checks returned by the bank as NSF, $188. Required: Determine the amount of the unadjusted cash balance per Pro Beauty Supply’s books.

Explanation / Answer

Adjusted balance as per Bank

Unadjusted balance as per book

Unadjusted balance 13185 Deposit in transit 1530 Error by bank 650 outstanding checks [155+450+1310] -1915 Adjusted balance as per bank 13450

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