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Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $ 18,500 Cash (A) Deposits $ 17,400 Other Credit $ 30 Balance $ 7,080 24,480 5,980 5,950 5,950

Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 $ 18,500 Cash (A) Deposits $ 17,400 Other Credit $ 30 Balance $ 7,080 24,480 5,980 5,950 5,950

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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Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 June June 30 9 E5-5 (Algo) Part 4 Debit Balance Deposits Balance Total Amount of Cash $ 18,500 Cash (A) 7,080 17,800 6,080 Deposits $ 17,400 Other Credit 18,800 Checks written $30 June Balance $ 7,080 24,480 5,980 5,950 5,950 4. In addition to the balance in its bank account, Hills Company also has $180 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30?
Transcribed Image Text:Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: BANK STATEMENT Checks Balance, June 1 Deposits during June Checks cleared during June Bank service charges Balance, June 30 June 1 June June 30 9 E5-5 (Algo) Part 4 Debit Balance Deposits Balance Total Amount of Cash $ 18,500 Cash (A) 7,080 17,800 6,080 Deposits $ 17,400 Other Credit 18,800 Checks written $30 June Balance $ 7,080 24,480 5,980 5,950 5,950 4. In addition to the balance in its bank account, Hills Company also has $180 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30?
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