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Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Easton's bank statement showed $58,439 on deposit in the bank. Determine the adjusted cash (bank) balance using the following information: Deposit in transit Outstanding checks An NSF check returned on a customer account Check printing fee, not yet recorded by company A payment was wrongly debited by the bank to Easton's account Interest earned on account, not yet recorded by the company $3,800 $1,925 $125 $15 $1,835 $30 Just based on the above information, the adjusted cash balance on June 30 is: Select one: OA. $56,424 OB. $60,239 OC. $60,224 OD. $62,149 OE $60.194

Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Easton's bank statement showed $58,439 on deposit in the bank. Determine the adjusted cash (bank) balance using the following information: Deposit in transit Outstanding checks An NSF check returned on a customer account Check printing fee, not yet recorded by company A payment was wrongly debited by the bank to Easton's account Interest earned on account, not yet recorded by the company $3,800 $1,925 $125 $15 $1,835 $30 Just based on the above information, the adjusted cash balance on June 30 is: Select one: OA. $56,424 OB. $60,239 OC. $60,224 OD. $62,149 OE $60.194

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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Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Easton's bank statement showed $58,439 on deposit in the bank. Determine the adjusted cash (bank) balance using the following information: Deposit in transit Outstanding checks An NSF check returned on a customer account Check printing fee, not yet recorded by company A payment was wrongly debited by the bank to Easton's account Interest earned on account, not yet recorded by the company $3,800 $1,925 $125 $15 $1,835 $30 Just based on the above information, the adjusted cash balance on June 30 is: Select one: A. $56,424 OB. $60,239 OC. $60,224 OD. $62,149 OE. $60.194
Transcribed Image Text:Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Easton's bank statement showed $58,439 on deposit in the bank. Determine the adjusted cash (bank) balance using the following information: Deposit in transit Outstanding checks An NSF check returned on a customer account Check printing fee, not yet recorded by company A payment was wrongly debited by the bank to Easton's account Interest earned on account, not yet recorded by the company $3,800 $1,925 $125 $15 $1,835 $30 Just based on the above information, the adjusted cash balance on June 30 is: Select one: A. $56,424 OB. $60,239 OC. $60,224 OD. $62,149 OE. $60.194
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