Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance? a. $291 b. $829 c. $471 d. $470

Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance? a. $291 b. $829 c. $471 d. $470

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EB: Using the following information, prepare a bank reconciliation. Bank balance: $7,651 Book balance:...

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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a. $291

b. $829

c. $471

d. $470

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On December 10, you receive your bank statement showing a balance of $2,984.86. Your checkbook shows a balance of $2,773.73. Outstanding checks are $389.81 and $172.56. The account earned $124.88. Deposits in transit amount to $471.12, and there is a service charge of $5.00. Calculate the reconciled balance. O $211.13 O $2,653.85 O $2,893.61 O $4,018.35
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