Question

Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted cash balance per books on May 31. Cash balance per books, 5/31 $3,398 Deposits in transit 202 Notes receivable and interest collected by bank 983 Bank charge for check printing 26 Outstanding checks 1,694 NSF check 175

Answer 1

Answer:

$4,180

Explanation:

Cash balance per books (May 31) $3,398

Notes receivable and interest collected by bank $983

Bank fees ($26)

NSF check ($175)

total reconciled cash balance per books = $4,180

Outstanding checks and deposits in transit are used to reconcile bank accounts, not the firm's cash account.