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'scomparison of the bank statement to its cash account revealed the following:Deposit in transitOutstanding checks1,450837Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deductionThe adjusted cash balance per the bank records should be:

Question
Asked Nov 3, 2019
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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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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Bank reconciliation statement: Bank statement is prepared by the bank. The company maintains its own records from its perspective. Bank reconciliation is the sta...

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