Problem 57

In preparing the bank reconciliation for the month of August, Apex Company
provided the following information:

Balance per bank statement 1,805,000

Deposit in transit 325,000
Return of customer check for insufficient fund 60,000
Outstanding checks 275,000
Bank service charge for August 10,000

What is the adjusted cash in bank?

Answer:
Balance per bank 1,805,000
Deposit in transit 325,000
Total 2,130,000
Outstanding checks (275,000)
Total 1,855,000

Problem 58

In preparing the bank reconciliation for the month of December, Case Company
the following data:

Balance per bank statement 3,800,000

Deposit in transit 520,000
Amount erroneously credited by bank to Case’s account 40,000
Bank service charge for December 60,000
NSF check 275,000
Outstanding checks 10,000

1. What is the adjusted cash in bank?

2. What is the unadjusted cash in bank balance per book?