What is Navarro's adjusted cash balance?
Lanny Company's cash account shows an ending balance of $770. The bank statement shows a $20 service charge and an NSF check for $100. A $250 deposit is in transit, and outstanding checks total $400. What is Navarro's adjusted cash balance?
a. $1,050
b. $650
c. $680
d. $530
e. none of the above
Homework Answers
Calculation of Navarro's adjusted cash balance
| Particulars | Amount$ |
| Cash account balance | 770 |
| Adjustments for missing entries | |
| Less : Service charge | 20 |
| Less : NSF check | 100 |
| Adjusted cash balance | 650 |
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