XYZ Inc is preparing the October month-end Bank Reconciliation. The balance in the cash ledger on October 31 was $1,900. Some adjustments to this cash ledger balance were recorded on the Bank Reconciliation Report, as follows: • Bank service charge $55 NSF cheque: $375 • Cheque # 40 was correctly written and processed for $3,030 however the XYZ bookkeeper recorded the cheque amount for $3,300. What is the adjusted cash balance for October 31, for the Bank Reconciliation Report? Show your basic math.
XYZ Inc is preparing the October month-end Bank Reconciliation. The balance in the cash ledger on October 31 was $1,900. Some adjustments to this cash ledger balance were recorded on the Bank Reconciliation Report, as follows: • Bank service charge $55 NSF cheque: $375 • Cheque # 40 was correctly written and processed for $3,030 however the XYZ bookkeeper recorded the cheque amount for $3,300. What is the adjusted cash balance for October 31, for the Bank Reconciliation Report? Show your basic math.
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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