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As of June 30, Year 1, the bank statement showed an ending balance of $16,672. The unadjusted Cash account balance was $15,912. The following
As of June 30, Year 1, the bank statement showed an ending balance of $16,672. The unadjusted Cash account balance was $15,912. The following information is available: 1. Deposit in transit, $2,295. 2. Credit memo in bank statement for interest earned in June: $22. 3. Outstanding check: $3,045. 4. Debit memo for service charge: $12. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1
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