Concord Wyatt is unable to reconcile the bank balance at January 31. Concord’s reconciliation is as follows.Cash balance per bank $3,860.20Add: NSF check 540.00Less: Bank service charge 31.00Adjusted balance per bank $4,369.20 Cash balance per books $4,175.20Less: Deposits in transit 680.00Add: Outstanding checks 936.00Adjusted balance per books $4,431.20 (c)Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (List all debit entries beforecredit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2decimal places, e.g. 52.75.)No. Account Titles and ExplanationDebitCredit1.(To record NSF check.)(To record bank service charge.)2. (a)What is the proper adjusted cash balance per bank? (Round answer to 2 decimal places, e.g. 52.75.)Adjusted cash balance per bank$eTextbook and MediaList of AccountsSave for Later(b)What is the proper adjusted cash balance per books? (Round answer to 2 decimal places, eg. 52.75.)Adjusted cash balance per books$eTextbook and MediaList of AccountsSave for Later

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 17P: Unknown Book Balance (Appendix 6.1) The following information pertains to the Cash account of...

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Concord Wyatt is unable to reconcile the bank balance at January 31. Concord’s reconciliation is as follows.

Cash balance per bank		$3,860.20
Add: NSF check		540.00
Less: Bank service charge		31.00
Adjusted balance per bank		$4,369.20

Cash balance per books		$4,175.20
Less: Deposits in transit		680.00
Add: Outstanding checks		936.00
Adjusted balance per books		$4,431.20

(c)
Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (List all debit entries before
credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2
decimal places, e.g. 52.75.)
No. Account Titles and Explanation
Debit
Credit
1.
(To record NSF check.)
(To record bank service charge.)
2.

(a)
What is the proper adjusted cash balance per bank? (Round answer to 2 decimal places, e.g. 52.75.)
Adjusted cash balance per bank
$
eTextbook and Media
List of Accounts
Save for Later
(b)
What is the proper adjusted cash balance per books? (Round answer to 2 decimal places, eg. 52.75.)
Adjusted cash balance per books
$
eTextbook and Media
List of Accounts
Save for Later

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