date). The bank charged Steve's account for P14,265,including a protest fee of P42.c. The deposit on June 24 was recorded on the books asP2,895 but it was actually a deposit of P2,700.d. Outstanding checks totaled P9,885 as of June 30.e. There were bank service charges for June of P210 not yetrecorded on the books.f. Steve's account had been charged on June 26 for acustomer's NSF check for P1,296.g. Steve properly deposited P600 on June 3 but it was notrecorded by the bank.h. Receipts on June 30 for P13,425 were recorded by the bankon July 2.i.A bank memo stated that a customer's note for P4,500 andinterest of P165 had been collected on June 27, and thebank charged a P36 collection fee.d. 62,890How much is the adjusted balance of cash on June 30?a. 34,890b. 41,230b. 58,920(Adapted) 2. The books of Steve's Service, Inc. disclosed a cash balance ofP68,757 on June 30. The bank statement as of June 30 showed abalance of P54,780. Additional information that might beuseful in reconciling the two balances follows:a. Check number 748 drawn for P3,000 was originallyrecorded on the books as P4,500.b. A customer's note dated March 25 was discounted onApril 12. The note was dishonored on June 29 (maturity

Introduction: A bank statement (also called an account statement) is a document (sometimes known as…

Answered: How much is the adjusted balance of…

Business

Accounting

How much is the adjusted balance of cash on June 30? a. 34,890 b. 41,230 b. 58,920 d. 62,890

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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Question 7
Post the differences between the cash count and the cash register tape to the Cash Short and Over T account. Assume a change fund of $100. Date Cash Register Tape Cash Count March 3 $1,495.89 $1,601.89 4 1,878.55 1,986.55 5 741.76 843.76 6 1,646.62 1,744.62 7 1,714.13 1,814.13 When required, enter amounts in dollars and cents.
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