Ask Question
14 January, 08:07

As of June 30, 2018, the bank statement showed an ending balance of $16,216. The unadjusted Cash account balance was $15,119. The following information is available: Deposit in transit, $2,175. Credit memo in bank statement for interest earned in June, $6. Outstanding check, $3,276. Debit memo for service charge, $10. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negative amounts should be indicated with minus sign.)

+5
Answers (2)
  1. 14 January, 10:46
    0
    Bank reconciliation

    Unadjusted book balance 16,216

    Add: Debit memo for service 10

    Less: Credit memo for int. earned 6

    True cash balance 16,220

    Unadjusted book balance 15,119

    Add: Outstanding check 3,276

    Less: Deposit in transit 2175

    True cash balance 16,220
  2. 14 January, 10:59
    0
    Bank Reconciliation Statement

    Balance as per bank statement $16,216

    Deposit Intransit 2,175

    less Outstanding check 3,276

    Balance as per cash book 15,112

    Explanation:

    The true cash balance equal $15,112
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “As of June 30, 2018, the bank statement showed an ending balance of $16,216. The unadjusted Cash account balance was $15,119. The following ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers