Problem 4 Basics of Proof of Cash Data regarding the cash in bank for the current year of Basic Company follow: Jan.31 Feb.28 Cash per ledger 290,000 250,000 Cash receipts for February 300,000 Unadjusted bank statement 237,500 276,800 Bank Disbursement 255,700 Credit Memo for note collected 30,000 35,000 Bank service charge 7,500 4,200 Deposit transit 50,000 60,000 Outstanding checks 15,000 16,000 Required: Compute for the adjusted baiance of the foliowing: 1. Cash in bank, January 31
Problem 4 Basics of Proof of Cash Data regarding the cash in bank for the current year of Basic Company follow: Jan.31 Feb.28 Cash per ledger 290,000 250,000 Cash receipts for February 300,000 Unadjusted bank statement 237,500 276,800 Bank Disbursement 255,700 Credit Memo for note collected 30,000 35,000 Bank service charge 7,500 4,200 Deposit transit 50,000 60,000 Outstanding checks 15,000 16,000 Required: Compute for the adjusted baiance of the foliowing: 1. Cash in bank, January 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Problem 4 Basics of Proof of Cash
Data regarding the cash in bank for the current year of Basic Company follow:
Jan.31
Feb.28
Cash per ledger
290,000
250,000
Cash receipts for February
300,000
Unadjusted bank statement
237,500
276,800
Bank Disbursement
255,700
Credit Memo for note collected
30,000
35,000
Bank service charge
7,500
4,200
Deposit transit
50,000
60,000
Outstanding checks
15,000
16,000
Rēquired: Compute for the adjusted batance of the folowing:
1. Cash in bank, January 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32fbf905-cf99-474b-a5ad-250b405c6eea%2F1532eba3-b099-4b19-9d2b-c49f4db3c819%2Fqpgvjar_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 4 Basics of Proof of Cash
Data regarding the cash in bank for the current year of Basic Company follow:
Jan.31
Feb.28
Cash per ledger
290,000
250,000
Cash receipts for February
300,000
Unadjusted bank statement
237,500
276,800
Bank Disbursement
255,700
Credit Memo for note collected
30,000
35,000
Bank service charge
7,500
4,200
Deposit transit
50,000
60,000
Outstanding checks
15,000
16,000
Rēquired: Compute for the adjusted batance of the folowing:
1. Cash in bank, January 31
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education