Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I know the outstanding checks amount but I don't know how to use excel equation to show the answer The June bank statement and the

image text in transcribedimage text in transcribedimage text in transcribed

I know the outstanding checks amount but I don't know how to use excel equation to show the answer

The June bank statement and the cash T-account for Superior Printing, Inc., is shown below. BANK STATEMENT Deposits Date June 1 Checks Other inin 440 1,200 500 1,200 250 80 9,800 10,000 Balance 18,500 18,060 16,860 16,360 15,160 24,910 23,990 49,190 48,840 44,240 60,540 59,570 NSF onu 35,000 350 4,600 700 17,000 920 Serv. Charge Interest Earned 59,000 - A 920 59,570 Serv. Charge Interest Earned 600 59,000 Cash June 1 Bal. June 13 deposit June 22 deposit June 29 deposit June 30 deposit 18,500 10,000 35,000 17,000 28,000 440 Check #100 1,200 Check #101 500 Check #102 1,200 Check #103 250 Check #104 80 Check #105 9,800 Check #106 350 Check #107 4,600 Check #108 770 Check #109 4,900 Check #110 700 Check #111 920 Check #112 600 Check #113 June 30 Bal. 82,190 $82,190 Updates to Bank Statement Ending balance per bank statement Additions: Deposits in Transit Deductions: Outstanding Checks SUPERIOR PRINTING, INC. Bank Reconciliation At June 30 Updates to Company's Books $59,000 Ending cash balance per books Additions: 28,000 Interest Earned Deductions: =E31+E30 NSF Check Service Charge $81,330 Up-to-date ending cash balance 30 840 50 $81,330 Up-to-date ending cash balance

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

Financial Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

4th Edition

0471730513, 978-0471730514

More Books

Students also viewed these Accounting questions

Question

Explain how intellectual property rights are protected globally.

Answered: 1 week ago

Question

1. Show enthusiasm for the subject you teach.

Answered: 1 week ago