Brangelina Adoption Agency's general ledger shows a cash balance of $11,701. The balance of cash in the March-end bank statement is $7,349. A review of the bank statement reveals the following additional information: deposits outstanding of $2,807 bank service fees of $78, and unrecorded electronic funds transfer for utilities of $1,467. Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.) Bank balance Deposits outstanding Cash balance per reconciliation $ $ 7,349 Company balance (2,807) Service fees EFT for utilities 4,542 Cash balance per reconciliation $ 11,701 (78) 1,467

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Vishnu 

Brangelina Adoption Agency's general ledger shows a cash balance of $11,701. The balance of cash in the March-end bank
statement is $7,349. A review of the bank statement reveals the following additional information: deposits outstanding of $2,807,
bank service fees of $78, and unrecorded electronic funds transfer for utilities of $1,467.
Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.)
Bank balance
Deposits outstanding
Cash balance per reconciliation
$
$
7,349 Company balance
(2,807) Service fees
EFT for utilities
4,542 Cash balance per reconciliation
$
11,701
(78)
1,467
Transcribed Image Text:Brangelina Adoption Agency's general ledger shows a cash balance of $11,701. The balance of cash in the March-end bank statement is $7,349. A review of the bank statement reveals the following additional information: deposits outstanding of $2,807, bank service fees of $78, and unrecorded electronic funds transfer for utilities of $1,467. Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.) Bank balance Deposits outstanding Cash balance per reconciliation $ $ 7,349 Company balance (2,807) Service fees EFT for utilities 4,542 Cash balance per reconciliation $ 11,701 (78) 1,467
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