Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The unadjusted cash account balance for Carson Company at December 31 is $12,815. The bank statement showed an ending balance of $18,350 at December 31.
The unadjusted cash account balance for Carson Company at December 31 is $12,815. The bank statement showed an ending balance of $18,350 at December 31. The following Information is available from an examination of the bank statement and the company's accounting records : Bank service charge Outstanding checks NSF check from a customer Deposits in transit $ 40 7,700 465 1,462 Check number 433 for the purchase of inventory was written correctly and paid by the bank correctly for $652 , but was recorded on the books at $256 . Carson uses the perpetual inventory system . Required : a ) Determine the true cash balance by preparing a bank reconciliation as of December 31. to be deducted should be indicated with a minus sign .
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started