The following information is available for the Maribel Company for the month of June: The unadjusted balance of the company's Cash account was $26,620 at the end of June. The bank statement shows a balance on June 30 of $26,960. Outstanding checks totaled $4,000 at June 30. Deposit in transit totaled $3,000 on June 30. The bank statement included unrecorded interest earned in the amount of $150. Check #1221 (in payment of account payable) was written for $4,900, but recorded in the accounting records as $4,090. The adjusted bank and book balance is:

The adjusted bank and book balance is shown below:-

Explanation:

The computation of the adjusted bank and book balance is given below:-

                                  Bank statement balance     Book balance

Opening balance        $26,960                             $26,620

Add:        Transit Deposit $3,000            Earned Interest $150

Less:        Outstanding check 4000         Error on check $810

                                                                            ($4,900 - $4,090)

Adjusted Balance    $25,960                                  $25,960

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