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What is net amount of the adjustments to taylor cash balance

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Problem 1: Which of the following items would be added to the balance per bank statement on a bank reconciliation?

a.Interest collected by the bank on a customer note

b.Deposit in transit

c.Outstanding checks

d.Service charge assessed by the bank

Taylor Corp. identified the following data in preparing a bank reconciliation on October 31, 2017:

Bank statement balance $29,600

Taylor's book balance (before adjustments) ?

Outstanding checks $3,100

NSF check $300

Service charge $200

Deposits in transit $2,200

Interest earned on checking account $100

Problem 2: What is the net amount of the adjustments to Taylor's cash balance as a result of the bank reconciliation?

a.No amounts need to be recorded.

b.$400 decrease

c.$900 decrease

d.$400 increase

Reference no: EM132789971

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