. Leng Xiong is unable to reconcile the bank balance at January 31. Leng’s reconciliation is shown here.

Question

.  Leng Xiong is unable to reconcile the bank balance at January 31.  Leng’s reconciliation is shown here.
	Cash balance per bank		$3,660.20
 	Add:  NSF check			      370.00
	Less:  Bank service charge	        25.00
	Adjusted balance per bank	$4,005.20

Cash balance per books		$3,975.20
	Less:  Deposits in transit		      590.00
	Add:  Outstanding checks	      670.00
Adjusted balance per books	$4,055.20

Instructions:  
(a)	 What is the proper adjusted cash balance per bank?
(b)	What is the proper adjusted cash balance per books?
(c)	Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books.

SraJMcGin · Answer

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