Question

Nilson Company gathered the following reconciling information in preparing its August bank reconciliation: Cash balance per books, 8/31 $28,000 Deposits in transit 1,200 Notes receivable and interest collected by bank 6,800 Bank charge for check printing 160 Outstanding checks 16,000 NSF check 1,360 The adjusted cash balance per books on August 31 is
a. $33,280.
b. $32,080.
c. $18,400.
d. $19,680.

Answer 1

Answer:

adjusted cash balance per books = $33280

Explanation:

given data

Cash balance per books 8/31  =  $28,000

Deposits =  1,200

collected by bank = 6,800

check printing =  160

Outstanding checks =  16,000

NSF check= 1,360

to find out

adjusted cash balance per books

solution

we know that adjusted cash balance per books is here express as

adjusted cash balance per books = cash opening + collection by bank - bank charge check printing - NSF check    .......................1

put here all these value in equation 1 we get

adjusted cash balance per books = $28,000 + 6,800 -  160 -  1,360

adjusted cash balance per books = $33280