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Information to calculate the adjusted cash balance for Sues Company is as follows: $2,100 Cash balance per general ledger Cu

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Answer #1

Solution : C, $2,690

Explanation

Particular's Amount Amount
Cash Balance per general ledger 2100
Add
Customer's note collected by bank 670 6,70
2,770
Less
Customer's Check Returned - NSF -50
Bank Service Charges -30 -80
Adjusted Cash Balance 2,690

Note: No adjustment is required for Deposit in transit and Outstanding checks as they are adjusted from Bank Balance not from Cash Balance as per Ledger / Books.

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