Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $21,861
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $21,861 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 2,150 Outstanding checks 1,026 Additionally, a $45 check written and recorded by the company correctly, was recorded by the bank as a $54 deduction The adjusted cash balance per the bank records should be: O O $22.985 O $22.976 (0) O $25,046 $22.994 O $18.694
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