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Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks 1,450 837 Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction The adjusted cash balance per the bank records should be:

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks 1,450 837 Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction The adjusted cash balance per the bank records should be:

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks 1,450 837 Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction The adjusted cash balance per the bank records should be:
Transcribed Image Text:Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks 1,450 837 Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction The adjusted cash balance per the bank records should be:
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