Question

Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $18,700. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,600, outstanding checks of $2,200, a NSF check of $900, bank service charges of $40 and the EFT from a customer in payment of the customer's account of $1,700. What is the up-to-date ending Cash balance

Answer 1

Up-to-date cash balance $18,100

Step-by-step explanation:

The computation of the up to date ending cash balance is shown below:

Cash balance as per bank statement $18,700

Add: Deposit-in-transit $1,600

Less: Outstanding checks -$2,200

Up-to-date cash balance $18,100

Here we add the deposits and subtracted the outstanding checks so that the up to date cash balance could come

The same would be considered