Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with this equation On December 31, Long Company's Cash account had a balance of $28,380, and the balance per bank statement was

image text in transcribedimage text in transcribed

I need help with this equation

image text in transcribedimage text in transcribed
On December 31, Long Company's Cash account had a balance of $28,380, and the balance per bank statement was $32,570. Analysis of the bank statement and comparison of the statement and records indicated the following: O Deposits in transit $ 7,895 O Outstanding_checks 6,140 O Bank service charge 25 Customer's returned check, NSF 940 0 Bank collection of note on our behalf 7,610 O Interest received on note 210 In reviewing the records, Long Company also discovered the following error: A Koala Company check of $910 was charged to Long Company's account.Required: Compute the adjusted balance of Cash per books. Adjusted balance of Cash: ta

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

Data Analytics for Accounting

Authors: Vernon Richardson

1st edition

1260375196, 9781260375183 , 978-1260375190

More Books

Students also viewed these Accounting questions