Chapter 7 FlashcxCHAPTER 7 ORION ecure htps:/ledugen. wileyplus.com/edugen/tilma
ID: 2548187 • Letter: C
Question
Chapter 7 FlashcxCHAPTER 7 ORION ecure htps:/ledugen. wileyplus.com/edugen/tilmain.un w Canvas Roling Loud Other Kimmel, Accounting, Ge Exercise 7-6 Rachel Sells is unable to reconcle the bank belance at Jenuary 31. Racheli's reconcililation is shown here Cash balance per bank 3,6772 450 Less: Bank service charge Adjusted balance per bank $4,099.2 Cash balance per books $3,975.3 90 Less: Deposits in transit Adjusted balance per books (a) What is the proper adjusted cesh balance per bank? (Round answers to 2 decimal places, e-9 52.75.) tudy Add: Outstanding checks 4,1552 The procper wdiyusteds cash balance per bank (b) What is the proper adjusted cash balance per books? (Rownd answers to 2 declmal The proper adjusted cash belance per books e) Prepare the adjusting jourmal entries necessary to determine the adjusted cash belance per books. (Round answers to 2 decimal places, o.g. 52.75. Credit accou places,e.g. s2.75) are automatically indented when amount is entered Do not indent manually.) Date Account Titles and Explanation an. 31 commandoptionExplanation / Answer
a.
b.
Journal entries:
Accounts receivables $450
To cash $450
Bank charge expense $28
To cash $28.
Particulars Amount($) Cash balance as per bank $3677.2 add: deposits in transist $590 less: outstanding checks ($770) Adjusted balance as per bank $3497.2