At June 30, Mareska Company has the following bank information: cash balance per bank €7,200; outstanding checks €560; deposits in transit €1,100; credit memo for interest €20; bank service charge €40.What is Mareska's adjusted cash balance on June 30?

Question

Quizplus · Accepted Answer

Starting Cash balance per bank = €7,200
Add: Deposits in transit = €1,100
Adjusted Bank Balance = €8,300
Less: Outstanding checks = €560
Adjusted balance per bank €7,740
Add: Credit memo for interest = €20
Adjusted cash balance on June 30 = €7,760
Less: Bank service charge = €40
Adjusted Cash Balance= €7,720

At June 30, Mareska Company Has the Following Bank Information