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Determine the Unadjusted Balance Per Bank Statement Given the Following

Question 118

Essay

Determine the unadjusted balance per bank statement given the following:
The balance per general ledger is $200
There is a credit memo for a note collected, $450
There is a debit memo for interest expense, $100
There is a debit memo for a customer's NSF cheque $375
Outstanding cheques amount to $2,000
This month's service charge amounts to $50
Deposits in transit amount to $1,500

Correct Answer:

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$625 [($200 + 450 - ...

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