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At April 30, Marigold Corp. has the following bank information: Cash balance per bank $5400 Outstanding checks $330 Deposits in transit $650 Credit memo for interest $10 Bank service charge $20 What is Marigold adjusted cash balance on April 30

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abiolataiwo2015

Answer:

$5,720

Explanation:

Calculation to determine What is Marigold adjusted cash balance on April 30

MARIGOLD CORP Adjusted cash balance on April 30

Cash balance per bank $5400

Less:Outstanding checks ($330)

Add: Deposit in transit $650

Adjusted cash balance. $5720

($5400-$330+$650)

Therefore Marigold adjusted cash balance on April 30 is $5,720