Apex Ltd was in the process of preparing a bank reconciliation statement. Apex Ltd book balance =32,800 Deposit in Transit =4,300 Outstanding checks =2,200 Interest earned on checking account =100 Customer NSF check returned by bank =400 The adjusted cash balance as at September 30, 2020 will be?

Apex Ltd was in the process of preparing a bank reconciliation statement. Apex Ltd book balance =32,800 Deposit in Transit =4,300 Outstanding checks =2,200 Interest earned on checking account =100 Customer NSF check returned by bank =400 The adjusted cash balance as at September 30, 2020 will be?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Apex Ltd was in the process of preparing a bank reconciliation statement.

Apex Ltd book balance =32,800

Deposit in Transit =4,300

Outstanding checks =2,200

Interest earned on checking account =100

Customer NSF check returned by bank =400

The adjusted cash balance as at September 30, 2020 will be?

Definition Definition Document prepared to identify any discrepancies between the passbook, which logs bank transactions, and the cash book, where a business tracks its own cash and bank transactions, so that corrective measures may be taken to reconcile the differences.

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