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Question: The Cash account in the ledger of Clear Windows shows a balance of $12,951 at September 30. The bank statement, however, shows a balance of $16,453 at the same date. The only reconciling items consist of a bank service charge of $13, a large number of outstanding checks totaling $5,510, and a deposit in transit. What is the adjusted cash balance in the September 30 bank reconciliation? What is the amount of the deposits in transit?

Question: The Cash account in the ledger of Clear Windows shows a balance of $12,951 at September 30. The bank statement, however, shows a balance of $16,453 at the same date. The only reconciling items consist of a bank service charge of $13, a large number of outstanding checks totaling $5,510, and a deposit in transit. What is the adjusted cash balance in the September 30 bank reconciliation? What is the amount of the deposits in transit?

FINANCIAL ACCOUNTING
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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Question: The Cash account in the ledger of Clear Windows shows a balance of $12,951 at September 30. The bank statement, however, shows a balance of $16,453 at the same date. The only reconciling items consist of a bank service charge of $13, a large number of outstanding checks totaling $5,510, and a deposit in transit. What is the adjusted cash balance in the September 30 bank reconciliation? What is the amount of the deposits in transit?
Transcribed Image Text:Question: The Cash account in the ledger of Clear Windows shows a balance of $12,951 at September 30. The bank statement, however, shows a balance of $16,453 at the same date. The only reconciling items consist of a bank service charge of $13, a large number of outstanding checks totaling $5,510, and a deposit in transit. What is the adjusted cash balance in the September 30 bank reconciliation? What is the amount of the deposits in transit?
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