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28 September, 07:11

In preparing its bank reconciliation for the month of April 2014, Henke, Inc. has the following information available. Balance per bank statement, 4/30/14 $34,140 NSF check returned with 4/30/14 bank statement 450 Deposits in transit, 4/30/14 5,000 Outstanding checks, 4/30/14 5,200 Bank service charges for April 20 What should be the correct balance of cash at April 30, 2014?

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  1. 28 September, 08:48
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    Bank adjustment balance 33,940

    Explanation:

    bank statement 34,140

    Deposit in transit 5,000

    Outstanding Check (5,200)

    Bank adjustment balance 33,940

    The bank already deducted their charges from his statement. It is our book who should adjust for this.

    the non-sufficient funds is also an adjustment needed to do in our accounting.
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