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What is the proper adjusted cash balance per bank

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Reference no: EM132643328

Rachel Sells is unable to reconcile the bank balance at January 31. Rachel's reconciliation is shown as follows.

Cash balance per bank $4,337.20

Add: NSF check 620.00

Less: Bank service charge 52.50

Adjusted balance per bank $4,904.70

Cash balance per books $4,635.20

Less: Deposits in transit 565.50

Add: Outstanding checks 940.00

Adjusted balance per books $5,009.70

Question 1: What is the proper adjusted cash balance per bank? (Round answers to 2 decimal places, e.g. 52.75.)

Question 2: What is the proper adjusted cash balance per books?(Round answers to 2 decimal places, e.g. 52.75.)

Question 3: Analysis for the adjustments required to reach the adjusted cash balance per books. Include margin explanations for the changes in revenues and expenses.

Reference no: EM132643328

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