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Sahara Company's Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara's adjusted cash balance?
A. $291
B. $829
C. $471
D. $470

Respuesta :

Answer:

C. $471

Explanation:

The computation of the adjusted cash balance is shown below:

= Ending balance of cash account - service charge - NSF checks

= $650 - $29 - $150

= $471

The deposit in transit and the outstanding checks are used to find out the adjusted bank balance, not for the adjusted cash balance. Hence, ignored it

So, All other information which is given is not relevant.

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