PRINCIPLES OF Rachel Sells is unable to reconcile the bank balance at January 31

Question

PRINCIPLES OF Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown d: NSF ch ss: Bank service charge justed balance per bank $4,242.20 615.00 53.00 $4,804.20 Cash balance per books Less: Deposits in transit Add: Outstanding checks Adjusted balance per books $4,540.20 565.00 935.00 $4,910.20 (a) What is the proper adjusted balance per bank? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per bank (b) What is the proper adjusted cash balance per books? (Round answers to 2 decimal places, e.g. 52.75.) The proper adjusted cash balance per books re to search DOLL

Explanation / Answer

Bank Reconcilation Cash balance per bank 4,242.20 add:deposit in transit 565 less:outstanding checks 935 adjusted balance per books 3,872.20 cash balance per book 4,540.20 less: NSF checl 615          Bank service charge 53 Adjusted balance per bank 3872.20 a) 3,872.20 b) 3,872.20 Account titles & explanations Debit Credit 31-Jan Accounts receivable 615 cash 615 31-Jan bank service charge/misc exp 53 cash 53

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