Unicycle Company developed the following reconciling information in preparing its September bank reconciliation: Determine the cash balance per books (before adjustments) for Unicycle Company.

Question

Unicycle Company developed the following reconciling information in preparing its September bank reconciliation:  Determine the cash balance per books (before adjustments) for Unicycle Company.

Quizplus · Accepted Answer

To determine the cash balance per books (before adjustments), we need to start with the balance according to the bank statement ($9,550) and subtract any outstanding checks ($2,000) and add any deposits in transit ($500). Therefore, the cash balance per books (before adjustments) is $7,550.

Unicycle Company Developed the Following Reconciling Information in Preparing Its