Blue Company is unable to reconcile the bank balance at January 31. Blue’s reconciliation is as follows. Cash balance per bank $5,300 Add: NSF check 1,490 Less: Bank service charge 25 Adjusted balance per bank $6,765 Cash balance per books $5,905 Less: Deposits in transit 950 Add: Outstanding checks 1,860 Adjusted balance per books $6,8
Blue Company is unable to reconcile the bank balance at January 31. Blue’s reconciliation is as follows. Cash balance per bank $5,300 Add: NSF check 1,490 Less: Bank service charge 25 Adjusted balance per bank $6,765 Cash balance per books $5,905 Less: Deposits in transit 950 Add: Outstanding checks 1,860 Adjusted balance per books $6,8
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Blue Company is unable to reconcile the bank balance at January 31. Blue’s reconciliation is as
follows.
Cash balance per bank $5,300
Add: NSF check 1,490
Less: Bank service charge 25
Adjusted balance per bank $6,765
Cash balance per books $5,905
Less: Deposits in transit 950
Add: Outstanding checks 1,860
Adjusted balance per books $6,8
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