What is the adjusted ledger balance of cash


Response to the following problem:

Hosung Company's Cash account shows a balance of $801.65 as of August 31 of this year. The balance on the bank statement on that date is $1,383. Checks for $260.50, $425.10, and $331.00 are outstanding. The bank statement shows a check issued by another depositor for $237.25 (in other words, the bank made an error and charged Hosung Company for a check written by another company). The bank statement also shows an NSF check for $180 received from one of Hosung's customers. Service charges for the month were $18. What is the adjusted ledger balance of cash as of August 31?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: What is the adjusted ledger balance of cash
Reference No:- TGS02127837

Now Priced at $20 (50% Discount)

Recommended (95%)

Rated (4.7/5)