Vida Corporation gathered the following reconciling information in preparing its July bank reconciliation: $$\begin{array} { | l | r | }
\hline \text { Cash balance per books, July 31 } & \$ 3,500 \
\hline \text { Deposits in transit } & 150 \
\hline \text { Electronic collection of account receivable } & 850 \
\hline \text { Bank charge for cheque printing } & 20 \
\hline \text { Outstanding cheques } & 2,000 \
\hline \text { NSF cheque } & 170 \
\hline
\end{array}$$ The adjusted cash balance per books at July 31 is
A) $4,160.
B) $4,010.
C) $2,460.
D) $2,310.

Question

Vida Corporation gathered the following reconciling information in preparing its July bank reconciliation: $$\begin{array} { | l | r | } 
\hline \text { Cash balance per books, July 31 } & \$ 3,500 \
\hline \text { Deposits in transit } & 150 \
\hline \text { Electronic collection of account receivable } & 850 \
\hline \text { Bank charge for cheque printing } & 20 \
\hline \text { Outstanding cheques } & 2,000 \
\hline \text { NSF cheque } & 170 \
\hline
\end{array}$$ The adjusted cash balance per books at July 31 is
A) $4,160.
B) $4,010.
C) $2,460.
D) $2,310.

Quizplus · Accepted Answer

The adjusted cash balance per books is $4,160. This is calculated by adding the deposits in transit and the electronic collection of account receivable to the cash balance per books, and then subtracting the bank charge for cheque printing, the outstanding cheques, and the NSF cheque.

Vida Corporation Gathered the Following Reconciling Information in Preparing Its