1. The unadjusted balance per the bank statement on June 30 was $55,423. 2. Deposits in transit on June 30 were $2,245. 3. A debit memo was included with the bank statement for a service charge of $6. 4. A $5,680 check written in June had not been paid by the bank. 5. The bank statement included a $1,350 credit memo for the collection of a note. The principal of the note was $1,295, and the interest collected amounted to $55. 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.) True cash balance
1. The unadjusted balance per the bank statement on June 30 was $55,423. 2. Deposits in transit on June 30 were $2,245. 3. A debit memo was included with the bank statement for a service charge of $6. 4. A $5,680 check written in June had not been paid by the bank. 5. The bank statement included a $1,350 credit memo for the collection of a note. The principal of the note was $1,295, and the interest collected amounted to $55. 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.) True cash balance
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section5.2: Bank Reconciliation
Problem 1OYO
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