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28 February, 18:22

At June 30, Yaddof Company has the following bank information: cash balance per bank $3,600; outstanding checks $680; deposits in transit $500; credit memo for interest $150; bank service charge $20. What is Yaddof adjusted cash balance on June 30?

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  1. 28 February, 18:47
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    Answer: Yaddof Adjusted Cash Balance is $3,290

    Explanation: Bank reconciliation of Yaddof Company as at 30th June

    Balance per Bank $3,600

    Less:Outstanding Checks ($680)

    Add: Deposit in transit $500

    Less: Credit Memo for Interest ($150)

    Add: Bank Service Charge $20

    Adjusted Cash Balance $3,290
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