Evan Root operates a bowling alley. He has just received the monthly bank statement at April 30
Question:
Evan Root operates a bowling alley. He has just received the monthly bank statement at April 30 from City National Bank, and the statement shows an ending balance of $565. Listed on the statement are an EFT rent collection of $320, a service charge of $7, two NSF checks totaling $115, and an $11 charge for printed checks. In reviewing his cash records, Root identifies outstanding checks totaling $602 and an April 30 deposit in transit of $1,790. During April, he recorded a $290 check for the salary of a part-time employee as $29. Roots Cash account shows an April 30 cash balance of $1,827. How much cash does Root actually have at April 30?
Step by Step Answer:
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas