At the end of March, the Grangelina Adoption Agency's general ledger reports a cash balance of $4,582. The bank statement, however, shows a cash balance of $7,323. Upon reviewing the bank statement, the following details are revealed:- **Checks outstanding**: $2,792- **Bank service fees**: $74- **Interest earned**: $23To calculate the correct balance of cash at the end of March, adjustments must be made based on the information provided. Amounts to be deducted should be indicated with a minus sign.### Reconciliation Table:| | Bank Balance | Company Balance ||----------------------|--------------|-----------------|| **Bank balance** | | || **Checks outstanding** | | || **Service fees** | | || **Interest earned** | | || **Cash balance per reconciliation** | | |Use this table to adjust and reconcile the bank and company balances, ensuring all deductions and additions are properly accounted for.

Checks that have been drawn by the company but have not been deducted from the bank balance are…

rangelina Adoption Agency's general ledger shows a cash balance of $4,582. The balance of cash in the March-end bank statement $7,323. A review of the bank statement reveals the following information: checks outstanding of $2,792, bank service fees of $74, nd interest earned of $23. Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.) Bank balance Company balance Checks outstanding Service fees Interest earned Cash balance per reconciliation Cash balance per reconciliation

rangelina Adoption Agency's general ledger shows a cash balance of $4,582. The balance of cash in the March-end bank statement $7,323. A review of the bank statement reveals the following information: checks outstanding of $2,792, bank service fees of $74, nd interest earned of $23. Calculate the correct balance of cash at the end of March. (Amounts to be deducted should be indicated with a minus sign.) Bank balance Company balance Checks outstanding Service fees Interest earned Cash balance per reconciliation Cash balance per reconciliation

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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