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. rev: 11_26_2014_QC_60098 7. Required information What is the "adjusted cash balance" 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_2

Step: 3

blur-text-image_3

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

Information Technology Control And Audit

Authors: Sandra Senft, Frederick Gallegos, Aleksandra Davis

4th Edition

1439893209, 978-1439893203

More Books

Students also viewed these Accounting questions