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1 April, 14:58

The following information is available for the Maribel Company for the month of June: The unadjusted balance of the company's Cash account was $26,620 at the end of June. The bank statement shows a balance on June 30 of $26,960. Outstanding checks totaled $4,000 at June 30. Deposit in transit totaled $3,000 on June 30. The bank statement included unrecorded interest earned in the amount of $150. Check #1221 (in payment of account payable) was written for $4,900, but recorded in the accounting records as $4,090. The adjusted bank and book balance is:

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  1. 1 April, 15:09
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    The adjusted bank and book balance is shown below:-

    Explanation:

    The computation of the adjusted bank and book balance is given below:-

    Bank statement balance Book balance

    Opening balance $26,960 $26,620

    Add: Transit Deposit $3,000 Earned Interest $150

    Less: Outstanding check 4000 Error on check $810

    ($4,900 - $4,090)

    Adjusted Balance $25,960 $25,960
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