At April 30, Pina Colada Corp. has the following bank information: Cash balance per bank $7600 Outstanding checks $460 Deposits in transit $900 Credit memo for interest $15 Bank service charge $30 What is Pina adjusted cash balance on April 30?

Pina adjusted cash balance on April 30 is $ 6,685

Solution:

Given,

As of April 30, Pina Colada Corp. has the following bank information:

Cash balance per bank $7600

Outstanding checks $460

Deposits in transit $900

Credit memo for interest $15

Bank service charge $30

Now To find Pina adjusted cash balance on April 30:

Adjusted Cash Balance Formula is : Cash balance + Notes receivable - Check Printing - NSF Check

Adjusted Cash Balance = $7600 + $15 - $30 - $900

Adjusted Cash Balance = $ 6,685

Pina adjusted cash balance on April 30 is $ 6,685