Unformatted text preview: Cash 15 Â«- Correct! 31 Rent Expense 20 Cash 20 Â«- Correct! For each of the following errors, explain the effect on (i) the adjusted bank statement cash balance and (ii) the adjusted cash account book balance. a. Unadjusted cash balance of $26,193 is listed on reconciliation as $26,139. b. Collection of $9,000 note less $45 collection fee is added to bank statement cash balance on reconciliation. a) No effect the on adjusted bank statement cash balance; $54 understatement on the adjusted cash account book balance b) $8,955 overstatement on the adjusted bank statement cash balance; $8,955 undertatement on the adjusted cash account book balance....
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This note was uploaded on 10/17/2011 for the course ACC 225 acc 225 taught by Professor Unknown during the Spring '10 term at University of Phoenix.
- Spring '10