Get correct answer accounting questions The cash balance per bank statement for Pioneer Logistics is $35,400. However, thecompany's books show a balance of $33,800 due to the following adjustments:• Outstanding checks: $3,000.Deposits in transit: $1,400•What should be the adjusted cash balance?

Step 1: Definition of Adjusted Cash BalanceThe adjusted cash balance refers to the reconciled cash…

Answered: The cash balance per bank statement for…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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Question: A company's cash account has a balance of $851 as of July 31. The bank statement for this account reports a balance of $1,430 as of July 31. There are outstanding checks totaling $840 and a deposit in transit of $60. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100, and a check printing fee of $90. What is the reconciled cash balance that should be reported on the company's balance sheet as of July 31? I need answer in Table format.
. A company's bank statement shows a balance of $10,000, while its cash account in the company's records indicates a balance of $9,500. Upon further analysis, the following discrepancies are identified: Outstanding checks total $1,200. • The bank erroneously recorded a deposit of $500 as $50. • The company recorded a check for $800 as $80. • The bank charged a service fee of $25. Calculate the adjusted cash balance after reconciling these discrepancies. Remember to subtract any outstanding checks and bank errors, and add any unrecorded deposits or adjustments to the cash balance to arrive at the adjusted cash balance.

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The cash balance per bank statement for Pioneer Logistics is $35,400. However, the company's books show a balance of $33,800 due to the following adjustments: • Outstanding checks: $3,000 . Deposits in transit: $1,400 • What should be the adjusted cash balance?