Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At June 30, Almond Co.'s cash balance was $10,012 before adjustments, while its ending bank statement balance was $10,772 . Check number 101 was issued
At June 30, Almond Co.'s cash balance was
$10,012
before adjustments, while its ending bank statement balance was
$10,772
. Check number 101 was issued June 2 in the amount of
$95
, but was erroneously recorded in Almond's general ledger balance as
$59
. The check was correctly listed in the bank statement at $95. The bank statement also included a credit memo for interest earned in the amount of
$35
, and a debit memo for monthly service charges in the amount of
$50
. What was Almond's adjusted cash balance at June 30 ?\ A.
$9,598
\ B.
$9,961
\ C.
$10,048
\ D.
$10,462
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started