Nickleson Company had an unadjusted cash balance of $ 4 , 0 9 7 as of May
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Question:
Nickleson Company had an unadjusted cash balance of $ as of May The companys bank statement, also dated May included an NSF check in the amount of $ written by one of Nicklesons customers. There were $ in outstanding checks and $ in deposits in transit as of May According to the bank statement, service charges were $ and the bank collected a note receivable of $ for Nickleson. The bank statement also showed $ of interest revenue earned by Nickleson.
Required
Determine the true cash balance as of May Hint: It is not necessary to use all of the preceding items to determine the true balance.
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date: