Before reconciling to its bank statement,Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250.The bank reconciliation for the month contained the following items: $$\begin{array} { | l | r | }
\hline \text { Deposits in trarsit } & \$ 750 \
\hline \text { Outstanding cheques } & \$ 465 \
\hline \text { nrterest earned } & \$ 20 \
\hline \text { NSF cheque returned to bark } & \$ 100 \
\hline \text { Bark service charge } & \$ 10 \
\hline
\end{array}$$ Given the above information,what adjusted cash balance should Lauren report at month-end?

Question

Before reconciling to its bank statement,Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250.The bank reconciliation for the month contained the following items: $$\begin{array} { | l | r | } 
\hline \text { Deposits in trarsit } & \$ 750 \
\hline \text { Outstanding cheques } & \$ 465 \
\hline \text { nrterest earned } & \$ 20 \
\hline \text { NSF cheque returned to bark } & \$ 100 \
\hline \text { Bark service charge } & \$ 10 \
\hline
\end{array}$$ Given the above information,what adjusted cash balance should Lauren report at month-end?

Quizplus · Accepted Answer

The Answer of Before reconciling to its bank statement,Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $5,250.The bank reconciliation for the month contained the following items: $$\begin{array} { | l | r | } 
\hline \text { Deposits in trarsit } & \$ 750 \
\hline \text { Outstanding cheques } & \$ 465 \
\hline \text { nrterest earned } & \$ 20 \
\hline \text { NSF cheque returned to bark } & \$ 100 \
\hline \text { Bark service charge } & \$ 10 \
\hline
\end{array}$$ Given the above information,what adjusted cash balance should Lauren report at month-end?

Before Reconciling to Its Bank Statement,Lauren Cosmetics Corporation's General Ledger