A company wishes to prepare its bank reconciliation for the month of November Th

Question

A company wishes to prepare its bank reconciliation for the month of November The following information is avail able Bank's cash balance at Nov 30 Ibefore adustments) $ 6,000 Company's cash balance at Nov 30 (before adjustments Interest earned on bank account Bank service charges Deposits-in-transit NSF check Outstanding checks 6,875 100 ,400 325 1,800 Question: After preparing its bank reconciliation, what is the adjusted cash balance the company should report in its accounting records at Nov 30 Answer: $ (do not use commas or decimal points)

Explanation / Answer

Cash balance 6875 Add Interest revenue 100 100 Less NSF checks 325 Bank Service charges 50 375 Adjusted cash balance 6600

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