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Exercise 6-11A (Algo) Determining the true cash balance, starting with the unadjusted bank balance LC 6-3 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 $53,671. 2. Deposits in transit on June 30 were $2,450. 3. A debit memo was included with the bank statement for a service charge of $8. 4. A $3,913 check written in June had not been paid by the bank. 5. The bank statement included a $1,400 credit memo for the collection of a note. The principal of the note was $1,370, and the interest collected amounted to $30. 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

Exercise 6-11A (Algo) Determining the true cash balance, starting with the unadjusted bank balance LC 6-3 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 $53,671. 2. Deposits in transit on June 30 were $2,450. 3. A debit memo was included with the bank statement for a service charge of $8. 4. A $3,913 check written in June had not been paid by the bank. 5. The bank statement included a $1,400 credit memo for the collection of a note. The principal of the note was $1,370, and the interest collected amounted to $30. 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

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 47E
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O S kipped eBook Hint Mc Graw Exercise 6-11A (Algo) Determining the true cash balance, starting with the unadjusted bank balance LO 6-3 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 $53,671. 2. Deposits in transit on June 30 were $2,450. 3. A debit memo was included with the bank statement for a service charge of $8. 4. A $3,913 check written in June had not been paid by the bank. 5. The bank statement included a $1,400 credit memo for the collection of a note. The principal of the note was $1,370, and the interest collected amounted to $30. 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 < Prev 10 of 20 Next >
Transcribed Image Text:O S kipped eBook Hint Mc Graw Exercise 6-11A (Algo) Determining the true cash balance, starting with the unadjusted bank balance LO 6-3 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 $53,671. 2. Deposits in transit on June 30 were $2,450. 3. A debit memo was included with the bank statement for a service charge of $8. 4. A $3,913 check written in June had not been paid by the bank. 5. The bank statement included a $1,400 credit memo for the collection of a note. The principal of the note was $1,370, and the interest collected amounted to $30. 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 < Prev 10 of 20 Next >
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