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 $60,264.

The following information is available for Trinkle Company for the month of June:

The unadjusted balance per the bank statement on June 30 was $60,264.

Deposits in transit on June 30 were $2,645.

A debit memo was included with the bank statement for a service charge of $14.

A $5,599 check written in June had not been paid by the bank.

The bank statement included a $750 credit memo for the collection of a note. The principal of the note was $710, 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.)

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

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

10th edition

78025621, 978-0078025624

More Books

Students also viewed these Accounting questions

Question

1. Identify three approaches to culture.

Answered: 1 week ago

Question

2. Define communication.

Answered: 1 week ago