Hosung Company's Cash account shows a balance of $801.65 as of August 31 of this year. The balance on the bank statement on that date is $1,383.00. Checks for $260.50, $425.10, and $331.00 are outstanding. The bank statement shows a check issued by another depositor for $237.25 (in other words, the bank made an error and charged Hosung Company for a check written by another company). The bank statement also shows an NSF check for $180 received from one of Hosung's customers. Service charges for the month were $18. What is the adjusted ledger balance of cash as of August 31

$603.65

Explanation:

The correct and accurate cash balance need to be calculated. This is done by preparing a Bank Reconciliation Statement.

Bank Reconciliation Statement.

Balance as per Bank Statement                                                $1,383.00

Add Outstanding Lodgments                                                          $0  

Less Unpresented Checks ($260.50 + $425.10 + $331.00)   ($1,016,60)

Add Error on Bank Statement                                                     $237.25

Balance as per Cash Book                                                          $603.65

therefore,

the adjusted ledger balance of cash as of August 31 is $603.65

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a

explanation: