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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Want the Correct answer of this Question
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?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education