In preparing its bank reconciliation for the month of April 2021, Haskins, Inc.has available the following information. What should be the adjusted cash balance at April 30, 2021?

Question

In preparing its bank reconciliation for the month of April 2021, Haskins, Inc.has available the following information.  What should be the adjusted cash balance at April 30, 2021?

Quizplus · Accepted Answer

The adjusted cash balance at April 30, 2021 is the sum of the ending balance per bank statement ($31,500), plus the deposits in transit ($4,200), minus the outstanding checks ($1,080), plus the bank collections ($540), minus the NSF check ($90), and minus the bank service charge ($900): $31,500 + $4,200 - $1,080 + $540 - $90 - $900 = $35,820. Therefore, the correct answer is D.

In Preparing Its Bank Reconciliation for the Month of April