The following information is related to the bank reconciliation of the Acme Company: Balance per bank statement $1,951.20 Balance per ledger 1,869.60 Deposits in transit 271.20 Outstanding checks 427.80 NSF check 61.20 Service charges 13.80 The adjusted/correct cash balance is - $1,794.60 - $1,719.60 - $1,638.00 - $1,713.00 - $1,876.20
The following information is related to the bank reconciliation of the Acme Company: Balance per bank statement $1,951.20 Balance per ledger 1,869.60 Deposits in transit 271.20 Outstanding checks 427.80 NSF check 61.20 Service charges 13.80 The adjusted/correct cash balance is - $1,794.60 - $1,719.60 - $1,638.00 - $1,713.00 - $1,876.20
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 7EA: Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance:...
Related questions
Question
Solving the problem
![The following information is related to the bank reconciliation of the Acme
Company:
Balance per bank statement $1,951.20
Balance per ledger 1,869.60
Deposits in transit 271.20
Outstanding checks 427.80
NSF check 61.20
Service charges 13.80 The adjusted/correct cash balance is
- $1,794.60
- $1,719.60
- $1,638.00
- $1,713.00
- $1,876.20](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa731d95b-d489-4cff-a26b-bba58d95ad1a%2F405610cb-7ab8-4d6f-9379-208f55f68024%2Fq3khmp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information is related to the bank reconciliation of the Acme
Company:
Balance per bank statement $1,951.20
Balance per ledger 1,869.60
Deposits in transit 271.20
Outstanding checks 427.80
NSF check 61.20
Service charges 13.80 The adjusted/correct cash balance is
- $1,794.60
- $1,719.60
- $1,638.00
- $1,713.00
- $1,876.20
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781305084087/9781305084087_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning