Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31.Cash balance per books, 5/31$5,400Deposits in transit375Notes receivable and interest collected by bank650Bank charge for check printing40Outstanding checks2,400NSF check140

Calculation of Adjusted cash balance as below:

Answered: Rodgers 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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Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31.

Cash balance per books, 5/31	$5,400
Deposits in transit	375
Notes receivable and interest collected by bank	650
Bank charge for check printing	40
Outstanding checks	2,400
NSF check	140

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