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Dewitt Company gathered the following information in preparing its bank reconciliation on May 31: Cash balance per books, May 31, $3,500; deposits in transit, $1,150; note and interest collected by the bank, $850; bank service charge, $20; outstanding checks, $2,500; NSF check, $170. The adjusted cash balance per books at May 31 is

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Answer:

The answer is: $4,160

Explanation:

To calculate Dewitt Company's adjusted cash balance per books we must add: cash balance per book + notes and interest collected. Then we subtract bank service charges and NSF check.

adjusted cash balance per books = ($3,500 + $850) - ($20 + $170) =

adjusted cash balance per books = $4,350 - $190 = $4,160

The adjusted cash balance per books doesn't include deposits in transit or outstanding checks (these are included in cash balance reconciled per bank statement).

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