the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in transit $1,481, and a bank service charge $24. Determine the adjusted cash balance per bank at July 31.

the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in transit $1,481, and a bank service charge $24. Determine the adjusted cash balance per bank at July 31.

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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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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the following bank information: cash balance per bank $8,070, outstanding checks $722, deposits in transit $1,481, and a bank service charge $24.

Determine the adjusted cash balance per bank at July 31.

Adjusted cash balance per bank

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