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Exercise Determining the true cash balance, starting with the unadjusted bank balance 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 $81,500. 2. Deposits in transit on June 30 were $3,150. 3. A debit memo was included with the bank statement for a service charge of $40. 4. A $5,611 check written in June had not been paid by the bank. 5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50. 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.)

Exercise Determining the true cash balance, starting with the unadjusted bank balance 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 $81,500. 2. Deposits in transit on June 30 were $3,150. 3. A debit memo was included with the bank statement for a service charge of $40. 4. A $5,611 check written in June had not been paid by the bank. 5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50. 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.)

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 60BPSB
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LO 6-3 Exercise 6-11A Determining the true cash balance, starting with the unadjusted bank balance 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 $81,500. 2. Deposits in transit on June 30 were $3,150. 3. A debit memo was included with the bank statement for a service charge of $40. 4. A $5,611 check written in June had not been paid by the bank. 5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50. 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.)
Transcribed Image Text:LO 6-3 Exercise 6-11A Determining the true cash balance, starting with the unadjusted bank balance 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 $81,500. 2. Deposits in transit on June 30 were $3,150. 3. A debit memo was included with the bank statement for a service charge of $40. 4. A $5,611 check written in June had not been paid by the bank. 5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50. 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.)
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