Harry Smith operates a bowling alley. He has just received the monthly bank statement at September 30
Question:
Harry Smith operates a bowling alley. He has just received the monthly bank statement at September 30 from City National Bank, and the statement shows an ending balance of $545. Listed on the statement are an EFT rent collection of $325, a service charge of $8, two NSF checks totaling $125, and a $10 charge for printed checks. In reviewing his cash records, Smith identifies outstanding checks totaling $609 and a September 30 deposit in transit of $1,790. During September, he recorded a $310 check for the salary of a part-time employee as $31. Smiths Cash account shows a September 30 cash balance of $1,823. How much cash does Smith actually have at September 30?
Step by Step Answer:
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas