Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company's bank statement indicated there as a cash balance of $16,230 on June 30. Other facts: a.Outstanding checks on June 30 totaled $7,630. b.The

A company's bank statement indicated there as a cash balance of $16,230 on June 30. Other facts:

a.Outstanding checks on June 30 totaled $7,630.

b.The company had received $2,760 from a customer on June 29 anddeposited it in the bank the same afternoon, but it was too late for it to appear on the June 30 bank statement.

c.On June 16 the bank had collected a note that was due to the company from a customer.The principal amount of the note was $4,000 and a total of $4,024 appeared on the company's June 30 bank statement.

d.The bank had added $20 to the June statement for bank service charges.

What is the total amount on the adjusted ending bank balance as of June 30 after the bank reconciliation is prepared?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business And Professional Ethics

Authors: Leonard J Brooks, Paul Dunn

8th Edition

1337514462, 9781337514460

More Books

Students also viewed these Accounting questions

Question

5. How quickly can we manage to collect the information?

Answered: 1 week ago

Question

3. Tactical/strategic information.

Answered: 1 week ago

Question

3. To retrieve information from memory.

Answered: 1 week ago