As of June 30, Year 2, the bank statement showed an ending balance of $19,565. The unadjusted Cash account balance was $17,653. The following information is available: 1. Deposit in transit, $2,015. 2. Credit memo in bank statement for interest earned in June, $22. 3. Outstanding check, $3,915. 4. Debit memo for service charge, $10. 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 $19,565. The unadjusted Cash account balance was $17,653. The following information is available: 1. Deposit in transit, $2,015. 2. Credit memo in bank statement for interest earned in June, $22. 3. Outstanding check, $3,915. 4. Debit memo for service charge, $10. 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 $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Alapesh
Transcribed Image Text:As of June 30, Year 2, the bank statement showed an ending balance of $19,565. The unadjusted Cash account balance was $17,653.
The following information is available:
1. Deposit in transit, $2,015.
2. Credit memo in bank statement for interest earned in June, $22.
3. Outstanding check, $3,915.
4. Debit memo for service charge, $10.
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
$
$
0
0
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