Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

As of June 30, Year 2, the bank statement showed an ending balance of $17,628. The unadjusted Cash account balance was 317494 The following information

image text in transcribed
As of June 30, Year 2, the bank statement showed an ending balance of $17,628. The unadjusted Cash account balance was 317494 The following information is available: 1. Deposit in transit. $2,895, 2. Credit memo in bank statement for interest earned in June, $16. 3. Outstanding check $3,026. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 $ ances True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 $ True cash balance 6/30/Year 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Management and Cost Accounting

Authors: Colin Drury

8th edition

978-1408041802, 1408041804, 978-1408048566, 1408048566, 978-1408093887

Students also viewed these Accounting questions