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 $5,800 at June 30. The bank statement, however, showed a balance of

The Cash account in the ledger of Hensley, Inc. showed a balance of $5,800 at June 30. The bank statement, however, showed a balance of $10,200 at the same date. The only reconciling items consisted of a $1,250 deposit in transit, a bank service charge of $21, and a large number of outstanding checks.

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

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

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

Principles Of External Auditing

Authors: Brenda Porter, Jon Simon, David Hatherly

1st Edition

0471962120, 978-0471962120

More Books

Students also viewed these Accounting questions