At June 30 Yaddof Company has the following bank information: cash balance per bank $1650; outstanding checks $430; deposits in transit $527; credit memo for interest $75; bank service charge $10. What is Mareska's adjusted cash balance on June 30?
A) $1747
B) $1650
C) $1660
D) $1715

Question

Quizplus · Accepted Answer

Starting cash balance per bank: $1650
Add: Deposits in transit: $527
Adjusted balance: $2177
Subtract: Outstanding checks: $430
Adjusted balance: $1747
Add: Credit memo for interest: $75
Adjusted balance: $1822
Subtract: Bank service charge: $10
Final adjusted cash balance: $1747

At June 30 Yaddof Company Has the Following Bank Information