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10 May, 20:42

Palm Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $4,300 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20 Outstanding checks 2,000 NSF check 170 The adjusted cash balance per the books on April 30 is a.$3,110. b.$2,280. c.$2,450. d.$4,960.

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  1. 10 May, 21:58
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    D. $4,960

    Explanation:

    Given cash balance = 4300

    Receivable collection = 850

    Bank charge = 20

    NSF check = 170

    Thus,

    Adjusted bool balance = Cash balance + receivable collection - bank charge - NSF check

    Therefore,

    = 4300 + 850 - 20 - 170

    = $4,960

    So, adjusted cash balance = $4960
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Home » Business » Palm Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 $4,300 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20
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