Solved

The Following Information Pertains to the Bank Reconciliation of January

Question 6

Essay

The following information pertains to the bank reconciliation of January 31 for the Greis Company:
 Unadjusted bank balance $18,900 Bank collection of a note receivable (no interest)2,000 Bank service charge 60 Deposit in transit 4,000NSF check returned by the bank 1,800Outstanding checks 6,000\begin{array}{llr} \text { Unadjusted bank balance } &\$18,900\\ \text { Bank collection of a note receivable (no interest)} &2,000\\ \text { Bank service charge } &60\\ \text { Deposit in transit } &4,000\\ \text {NSF check returned by the bank } &1,800\\ \text {Outstanding checks } &6,000\\\end{array}

In addition, the reconciliation revealed one error: Check number 2146 for $152, written to pay utilities expense, was incorrectly recorded in the books for $125.Required:Using the above information, compute the unadjusted book balance for cash.

Correct Answer:

verifed

Verified

$16,787 unadjusted book balanceFirst, co...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions