Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cash account in the ledger of Hensley, Inc. showed a balance of $6,100 at June 30. The bank statement, however, showed a balance of

The Cash account in the ledger of Hensley, Inc. showed a balance of $6,100 at June 30. The bank statement, however, showed a balance of $10,900 at the same date. The only reconciling items consisted of a $1,350 deposit in transit, a bank service charge of $23, and a large number of outstanding checks.

What is the "adjusted cash balance" at June 30?

A)$10,900.

B)$6,077.

C)$6,173.

D)$4,750.

Part 2)

What is the total amount of the outstanding checks at June 30?

A)$6,173.

B)$4,750.

C)$6,150.

D)$3,354

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

Students also viewed these Accounting questions