Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help me balance per bank outstanding ch

Please help me Balance per bank Outstanding checks Deposits in transit...

70.2K

Verified Solution

Question

Accounting

Please help me image
Balance per bank Outstanding checks Deposits in transit NSF check Bank service charge Cash balance per books $3,820 $775 $1,250 580 $25 $4,400 As a result of this reconciliation, Russel will a increase its general ledger cash account by $55 b reduce its general ledger cash account by $25 c. reduce its general ledger cash account by $105 d. reduce its general ledger cash account by $475 e. None of the above. They will only increase the Bank Balance. 9. A check written by the company for $167 is incorrectly recorded as $176. On the bank reconciliation, the $9 error should be a. added to the balance per books. b. deducted from the balance per books c. added to the balance per bank. d. deducted from the balance per bank 10. Nilson Company gathered the following information in preparing its August bank reconciliation: Cash balance per books, 8131 Deposits in transit Notes receivable and interest collected by bank Bank charge for check printing Outstanding checks NSF check $7,000 300 1,700 40 4,000 340 The adjusted cash balance per books on August 31 is a. $8,320 b. $8,020 c. $4,620 d. $4,920

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students