Question

Calculate, from the following information accumulated by gene park, the adjusted cash balance at the end of april.

bank statement ending cash balance $2,710 ;
general ledger cash balance ending 4,350 ;
bank monthly service charge 50 ;
deposits in transit 2,700 ;
outstanding checks 1,300 ;
nsf check returned with bank statement 190
A. $4,350
B. $4,110
C. $5,410
D. $4,300

Answer 1

Answer: So, the correct answer is C. $5,410.

Step-by-step explanation:

o calculate the adjusted cash balance at the end of April, we need to consider the following information:

Bank statement ending cash balance: $2,710

General ledger cash balance ending: $4,350

Bank monthly service charge: $50

Deposits in transit: $2,700

Outstanding checks: $1,300

NSF check returned with bank statement: $190

To find the adjusted cash balance, we can follow these steps:

1. Start with the general ledger cash balance: $4,350

2. Add the deposits in transit: $4,350 + $2,700 = $7,050

3. Subtract the outstanding checks: $7,050 - $1,300 = $5,750

4. Subtract the NSF check returned with the bank statement: $5,750 - $190 = $5,560

5. Subtract the bank monthly service charge: $5,560 - $50 = $5,510

Therefore, the adjusted cash balance at the end of April is $5,510.

So, the correct answer is C. $5,410.

Answer 2

To calculate the adjusted cash balance at the end of April, use the formula: Bank Statement Ending Cash Balance + Deposits in Transit - Outstanding Checks - NSF Check Returned.

Step-by-step explanation:

To calculate the adjusted cash balance at the end of April, we need to take into account the deposits in transit, outstanding checks, and the NSF check returned with the bank statement. The formula to calculate the adjusted cash balance is:

Adjusted Cash Balance = Bank Statement Ending Cash Balance + Deposits in Transit - Outstanding Checks - NSF Check Returned

Using the given information:

Adjusted Cash Balance = $2,710 + $2,700 - $1,300 - $190 = $4,920

Therefore, the adjusted cash balance at the end of April is $4,920.