Gunnar Company gathered the following reconciling information in preparing its September bank reconciliation:Line Item DescriptionAmountCash balance per company’s records, September 30$3,019Deposits in transit450Note receivable and interest collected by bank895Bank charge for check printing31Outstanding checks1,286NSF check169Determine the adjusted balance that would appear in the company section of the bank reconciliation on September 30.a. $3,047.b. $2,183.c. $2,878.d. $3,714.

The objective of the question is to determine the adjusted cash balance that would appear in the company section of the bank reconciliation on September 30.The first step is to identify the items that would increase or decrease the cash balance per company's records. Deposits in transit and note receivable and interest collected by bank would increase the balance, while bank charge for check printing, outstanding checks, and NSF check would decrease the balance.The cash balance per company's records is $3,019. Add the deposits in transit ($450) and the note receivable and interest collected by bank ($895) to the cash balance. This gives us a subtotal of $4,364 ($3,019 + $450 + $895).Next, subtract the bank charge for check printing ($31), outstanding checks ($1,286), and NSF check ($169) from the subtotal. This gives us the adjusted cash balance: $4,364 - $31 - $1,286 - $169 = $2,878.Therefore, the adjusted balance that would appear in the company section of the bank reconciliation on September 30 is $2,878.The adjusted cash balance that would appear in the company section of the bank reconciliation on September 30 is $2,878. This is calculated by adding the deposits in transit and the note receivable and interest collected by bank to the cash balance per company's records, and then subtracting the bank charge for check printing, outstanding checks, and NSF check.

Answered: Gunnar Company gathered the following…

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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Line Item Description	Amount
Cash balance per company’s records, September 30	$3,019
Deposits in transit	450
Note receivable and interest collected by bank	895
Bank charge for check printing	31
Outstanding checks	1,286
NSF check	169