Dean White operates a roller skating center, Rinkland USA. He has just received the monthly bank statement
Question:
Dean White operates a roller skating center, Rinkland USA. He has just received the monthly bank statement at March 31 from Peoples National Bank, and the statement shows an ending balance of $740. Listed on the statement are an EFT rent collection of $320, a service charge of $8, two NSF checks totaling $110, and a $10 charge for printed checks. In reviewing his cash records, White identifies outstanding checks totaling $610 and a March 31 deposit in transit of $ 1,790. During March, he recorded a $280 check for the salary of a part-time employee as $28. White's Cash account shows a March 31 cash balance of $1,980. How much cash does White actually have at March 31,2016?
Step by Step Answer:
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz