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DanielleCPA, CPA
Category: Single Problem
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Experience:  CPA with finance and business expertise
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Flynn Company's monthly bank statement showed the ending balance

Customer Question

Flynn Company's monthly bank statement showed the ending balance of cash of $20,750. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1,980, outstanding checks of $2,800, a NSF check of $790, bank service charges of $30 and the EFT from a customer in payment of the customer's account of $1,590.
What is the adjusted cash balance at the end of the month?
Submitted: 1 year ago.
Category: Single Problem
Expert:  DanielleCPA replied 1 year ago.
Hello, thanks for using our service!The adjusted cash balance is calculated as follows:Bank Balance 20,750Plus: Deposit in Transit 1,980Less: Outstanding Checks (2,800)Adjusted Cash Balance 19,930
Expert:  DanielleCPA replied 1 year ago.
Please let me know if I can be of further assistance. Have a wonderful evening!