The cash account shows a balance of 88000 before reconciliation. The bank statem

Question

The cash account shows a balance of 88000 before reconciliation. The bank statement does not include a deposit of $5100 made on the last day of the month. The bank statement shows a collection by the bank of $2100 and a customers check for $630 was returned because it was NSF. A customer’s check for $850 was recorded on the books as $1130, and a check written for $138 was recorded as $191. The correct balance in the cash account was The cash account shows a balance of 88000 before reconciliation. The bank statement does not include a deposit of $5100 made on the last day of the month. The bank statement shows a collection by the bank of $2100 and a customers check for $630 was returned because it was NSF. A customer’s check for $850 was recorded on the books as $1130, and a check written for $138 was recorded as $191. The correct balance in the cash account was

Explanation / Answer

Cash Balance is $89,243 Workings Solution: $88,000 + $2,100 – $630 – ($1,130 – $850) + ($191 – $138) = $89,243

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