Question
Rainey Company's true cash balance at October 31 is $8,710. The following information is available for the bank reconciliation: Outstanding checks, $550 Deposits in transit,
Rainey Company's true cash balance at October 31 is $8,710. The following information is available for the bank reconciliation:
Outstanding checks, $550
Deposits in transit, $1,150
Bank service charges, $90
The bank had collected an account receivable for Rainey Company, $1,000
The bank statement included an NSF check written by one of Ramsey's customers for $600.
Based on this information Rainey's unadjusted bank balance at October 31 is:
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| Unadjusted Bank Balance | _________ |
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| True Cash Balance |
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Financial Accounting
Authors: Jan R. Williams, Susan F. Haka, Mark S. Bettner, Joseph V. Carcello
12th Edition
0071116796, 978-0071116794
