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Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following adjustments were used as part of the bank reconciliation: Outstanding cheques Bank service charges...

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Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following adjustments were used as part of the bank reconciliation: Outstanding cheques Bank service charges $2,100 300 Non-sufficient fund cheques from customers removed from bank account 200 Deposits in transit 1,700 A cheque from a customer was incorrectly recorded as $500 when it should have been recorded as $2,500. What is the total adjustment required to cash in the general ledger?
Extracted text: Joey Co just completed it's bank reconciliation for the year-ended December 31, 20x1. The following adjustments were used as part of the bank reconciliation: Outstanding cheques Bank service charges $2,100 300 Non-sufficient fund cheques from customers removed from bank account 200 Deposits in transit 1,700 A cheque from a customer was incorrectly recorded as $500 when it should have been recorded as $2,500. What is the total adjustment required to cash in the general ledger?
Answered 77 days After Jun 06, 2022

Solution

Harshit answered on Aug 23 2022
60 Votes
Sheet1
    Total adjustment required in cash general ledge
    E
or on cheque (2500-500)     2000
    Less
    Bank Service Charges    -300
    NSF Check    -200
    Total adjustment required in cash general ledger    1500
    Working Notes
    Total investment required in cash general ledger is $1500.
    Deposit in transit...
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