Egrane,Inc.'s monthly bank statement showed the ending balance of cash of $14,800.The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,200,outstanding checks of $1,600,a NSF check of $560,bank service charges of $24 and the EFT from a customer in payment of the customer's account of $1,200. What is the up-to-date ending Cash balance?

Question

Quizplus · Accepted Answer

Up-to-date ending cash balance = Balance per the bank + Deposits in transit − Outstanding checks
= $14,800 + $1,200 − $1,600 = $14,400