Answered step by step
Verified Expert Solution
Question
1 Approved Answer
E5-5 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash (LO 5-4] [The following information applies to the questions displayed below.) Hills Company's June
E5-5 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash (LO 5-4] [The following information applies to the questions displayed below.) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June $18,600 Bank service charges Balance, June 30 Deposits Other Balance $ 7,100 $17,500 24,600 6,000 $30 5,970 5,970 June 1 June Balance Deposits Balance Cash (A) 7,100 18,000 18,900 Checks written June 6, 200 June 30 E5-5 Part 4 - In addition to the balance in its bank account, Hills Company also has $200 of petty cash on hand. This amount is recorded in a separate T-account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Total Amount of Cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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