Determine the adjusted cash balance per bank for Egg Packaging on April 30, from the following information: Cash balance on the bank statement $2,500
Customer's cheque returned-NSF 500
Customer's note collected by the bank 600
Deposits in transit, April 30 1,400
Outstanding cheques, April 30 2,650

Question

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The adjusted cash balance per bank is calculated as: Bank statement balance ($2,500) + Deposits in transit ($1,400) - Outstanding cheques ($2,650) = $1,250. The NSF cheque and note collected by the bank affect the book balance, not the bank balance.

Determine the Adjusted Cash Balance Per Bank for Egg Packaging