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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?

Respuesta :

TomShelby

Answer:

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.

anthougo

The correct cash balance as at April 30, 2014, for Henke, Inc. is C. $33,470.

What is bank reconciliation?

Bank reconciliation is an accounting process for summarizing bank transactions and reconciling the bank statement with the internal records.

Data and Calculations:

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 20

Bank Reconciliation Statement:

Balance per bank statement, 4/30/14  $34,140

Deposits in transit, 4/30/14                      5,000

Outstanding checks, 4/30/14                 (5,200)

Balance as per cash book                  $33,940

Cash Book Adjustment:

Balance as per cash book                  $33,940

Less: NSF check returned                         450

         Bank service charges                        20

Adjusted cash book balance            $33,470

Question Completion with Answer Options:

A. $33,895

B. $33,490

C. $33,470

D. $33,985

Thus, the correct cash balance as at April 30, 2014, for Henke, Inc. is C. $33,470.

Learn more about bank reconciliation at https://brainly.com/question/15702282

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