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30 March, 23:48

The following data were gathered to use in reconciling the bank account of Torres Company:

Balance per bank $12,175

Balance per company records 9,480

Bank service charges 50

Deposit in transit 1,800

NSF check 1,250

Outstanding checks 5,795

Instructions

A. What is the adjusted balance on the bank reconciliation?

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Answers (1)
  1. 31 March, 00:07
    0
    The answer is $8,180

    Explanation:

    Balance per general ledger cash at bank account. $9,480

    Items in bank statement not in cash book:

    Bank service charges. ($50)

    NSF check. ($1,250)

    Corrected cash at bank $8,180

    Balance per bank statement $12,175

    Items in general ledger not in bank statement:

    Deposit in transit $1,800

    Outstanding checks ($5,795)

    Corrected balance per bank statement. $8,180
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