Question
The Cash account in the ledger of Hensley, Inc. showed a balance of $4,750 at June 30. The bank statement, however, showed a balance of
The Cash account in the ledger of Hensley, Inc. showed a balance of $4,750 at June 30. The bank statement, however, showed a balance of $7,750 at the same date. The only reconciling items consisted of a $900 deposit in transit, a bank service charge of $14, and a large number of outstanding checks. What is the "adjusted cash balance" at June 30?
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Managerial Accounting An Integrative Approach
Authors: C J Mcnair Connoly, Kenneth Merchant
2nd Edition
099950049X, 978-0999500491
