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Calculate the adjusted cash balance for the january

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Question - The following items appeared on the January 31 bank reconciliations for Gower Company:

  • Bank Service Charge: $8
  • NSF Check: $40
  • Outstanding Checks: $30
  • Deposit in Transit: $80
  • Error: Deposit by Gower for $404 was correctly recorded by Gower, but recorded for $440 by the bank.
  • Bank collection of Note Receivable for Gower: $170

The unadjusted balance per the January 31 bank statement is $1,000.

The adjusted cash balance for the January 31 balance sheet is:

a. $1,136

b. $1,014

c. $1,086

d. $1,050

Reference no: EM132234585

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