Question

Additionally, a $57 check written and recorded by the company correctly, was recorded by the bank as a $75 deduction. The adjusted cash balance per the bank records should be:

Answer 1

Answer: $32,744

Explanation:

To find out the balance as per the bank records;

= Unadjusted book balance + Deposits in transit + error in bank record - Outstanding checks

= 30,361 + 3,850 + (75 - 57) - 1,485

= $32,744