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rubydelgado
22.08.2019 •
Business
A company's cash account shows an ending balance of $ 4 comma 200. reconciling items included a bookkeeper error of $ 70 (a $ 550 check recorded as $ 620), two outstanding checks totaling $ 810, a service charge of $ 25, a deposit in transit of $ 280, and interest revenue of $ 30. what is the adjusted book balance?
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Ответ:
The adjusted book balance is $4,275.
Explanation:
For computing the adjusted book balance, the following equation should be used which is shown below.
= Ending balance of cash account + bookkeeper error- service charge + interest revenue
= $4,200 + $70 - $25 + $30
= $4,275
The transactions like outstanding checks, the deposit is transit do not affect the book balance. Thus, these transactions are ignored while computing the adjusted book balance.
Hence, the adjusted book balance is $4,275.
Ответ:
Answer and Explanation:
The preparation of the transactions using the integrated financial statement is prepared with the help of spreadsheet which is attached below:-
Cash balance = $59,220
Net income = Services on account + Received services - Retained earnings
= $16,300 + $6,250 - $12,550
= $10,000
So, to reach net income we simply added the services on account with received services and deduct the retained earnings.