Cash Flow
Cash Flow
Cash Flow
Reconciliation:
Adjusted Bank Balance $25,900
Adjusted Book Balance $16,980
Adjusted Book Balance = Balance per Company's Books + Deposits Outstanding - Bank
Service Charges - Other Adjustments
In the provided information, let's break down the adjustments:
• Start with the balance per the company's books: $5,575.
• Add the customer deposits outstanding: $14,680.
• Subtract bank service charges: $65.
• Subtract bank service fee: $50.
• Subtract the incorrect recording of customer's check: $450.
• Subtract the incorrect recording of B-Zone Networks check: $2,350.
• Subtract the incorrect recording of Decker Company payment: $260.
Now, let's plug in these values into the formula:
Adjusted Book Balance = $5,575 + $14,680 - $65 - $50 - $450 - $2,350 - $260
Adjusted Book Balance = $16,980
B.
Prepare the necessary entries to make the cash account agree with the bank
reconciliation adjusted cash balance as of October 31
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