The following information is needed to reconcile the cash balance for Gourmet Catering Services. * A deposit of $ 5 comma 700 is in transit. * Outstanding checks total $ 1 comma 300. * The book balance is $ 6 comma 500 at February 28, 2019. * The bookkeeper recorded a $ 1 comma 700 check as $ 17 comma 100 in payment of the current month's rent. * The bank balance at February 28, 2019 was $ 16 comma 040. * A deposit of $ 200 was credited by the bank for $ 2 comma 000. * A customer's check for $ 3 comma 200 was returned for nonsufficient funds. * The bank service charge is $ 60. What was the adjusted book balance?

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Dryomys Dryomys · Answer 1 · 2020-03-30T03:59:42+02:00

Answer:

$18,640

Explanation:

Given that,

Balance as per books = $6,500

Non Sufficient fund checks returned by the banks = $3,200

Bank service charge = $60

The bookkeeper recorded a $ 1,700 check as $ 17,100 in payment of the current month's rent.

Adjusted book balance:

= Balance as per books + Wrong entry - Non Sufficient fund checks returned by the banks - Bank service charge

= $6,500 + ($17,100 - $1,700) - $3,200 - $60

= $18,640