24. Companys cash balance at the end of the month was $6,500. After comparing the...
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Accounting
24. Companys cash balance at the end of the month was $6,500. After comparing the companys records with the monthly bank statement. The companys accountant identified the following reconciling items: outstanding checks, $800; deposits in transit, $700; bank service charge, $30; NSF check, $500. What is the adjusted bank balance?
A) $6,600
B) $5,970
C) $6,370
D) The adjusted bank balance cannot be determined from this information
Please explain what is being added and why? when is Bank Balance added and when is Book balance added? im confused on that. Thanks!
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