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As of June 30, Year 2, the bank statement showed an ending balance of $18.157. The unadjusted Cash account balance was $17.527 The following information is available 1. Deposit in transit, $2,990 2. Credit memo in bank statement for interest earned in June, $14 3. Outstanding check. $3,619. 4. Debit memo for service charge. $13 Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2

As of June 30, Year 2, the bank statement showed an ending balance of $18.157. The unadjusted Cash account balance was $17.527 The following information is available 1. Deposit in transit, $2,990 2. Credit memo in bank statement for interest earned in June, $14 3. Outstanding check. $3,619. 4. Debit memo for service charge. $13 Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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As of June 30, Year 2, the bank statement showed an ending balance of $18.157. The unadjusted Cash account balance was $17,527 The following information is available 1. Deposit in transit, $2.990 2. Credit memo in bank statement for interest earned in June, $14 3. Outstanding check. $3,619. 4. Debit memo for service charge. $13 Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2
Transcribed Image Text:As of June 30, Year 2, the bank statement showed an ending balance of $18.157. The unadjusted Cash account balance was $17,527 The following information is available 1. Deposit in transit, $2.990 2. Credit memo in bank statement for interest earned in June, $14 3. Outstanding check. $3,619. 4. Debit memo for service charge. $13 Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2
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