Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for Trinkle Company for the month of June: The unadjusted balance per the bank statement on June 30 was $52,911.

The following information is available for Trinkle Company for the month of June: The unadjusted balance per the bank statement on June 30 was $52,911. Deposits in transit on June 30 were $2,915. A debit memo was included with the bank statement for a service charge of $16. A $3,211 check written in June had not been paid by the bank. The bank statement included a $650 credit memo for the collection of a note. The principal of the note was $610, and the interest collected amounted to $40. Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)

image text in transcribed The following information is available for Trinkle Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $52,911. 2. Deposits in transit on June 30 were $2,915. 3. A debit memo was included with the bank statement for a service charge of $16. 4. A$3,211 check written in June had not been paid by the bank. 5. The bank statement included a $650 credit memo for the collection of a note. The principal of the note was $610, and the int collected amounted to $40. Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)

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

ISE Computer Accounting With Quickbooks Online

Authors: Donna Kay

2nd Edition

1260590933, 9781260590937

More Books

Students also viewed these Accounting questions

Question

all of teh following are steps in the judicial process except

Answered: 1 week ago