In preparing its bank reconciliation for the month of April 2011, Gantner, Inc.has available the following information. What should be the adjusted cash balance at April 30, 2011?

Question

In preparing its bank reconciliation for the month of April 2011, Gantner, Inc.has available the following information.  What should be the adjusted cash balance at April 30, 2011?

Quizplus · Accepted Answer

- Starting cash balance per books = $64,330
- Add: Deposits in transit = $12,360
- Adjusted balance = $76,690
- Less: Outstanding checks = $810
- Add: Bank error (credit memo) = $2,000
- Adjusted cash balance = $77,880

In Preparing Its Bank Reconciliation for the Month of April