Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign.
Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028.
The following information is available:
1. Deposit in transit, $2,795.
2. Credit memo in bank statement for interest earned in June: $14.
3. Outstanding check: $3,946.
4. Debit memo for service charge: $12.
Required:
Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.
Note: Negative amounts should be indicated with minus sign.
Bank Reconciliation
Unadjusted bank balance 6/30/Year 1
True cash balance 6/30/Year 1
Unadjusted book balance 6/30/Year 1
True cash balance 6/30/Year 1
$
$
$
18,181
18,181
4
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5bd61b50-5c88-4580-bd29-b4b6e84ce760%2Fd1583de0-c7f2-4ce3-8ab0-f426e7ffb4f6%2F50zv6he_processed.jpeg&w=3840&q=75)
Transcribed Image Text:As of June 30, Year 1, the bank statement showed an ending balance of $18,181. The unadjusted Cash account balance was $17,028.
The following information is available:
1. Deposit in transit, $2,795.
2. Credit memo in bank statement for interest earned in June: $14.
3. Outstanding check: $3,946.
4. Debit memo for service charge: $12.
Required:
Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.
Note: Negative amounts should be indicated with minus sign.
Bank Reconciliation
Unadjusted bank balance 6/30/Year 1
True cash balance 6/30/Year 1
Unadjusted book balance 6/30/Year 1
True cash balance 6/30/Year 1
$
$
$
18,181
18,181
4
0
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