Required information [The following information applies to the questions displayed below] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available. 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Amounts to be deducted should be indicated with minus sign.) D 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
Required information [The following information applies to the questions displayed below] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available. 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Amounts to be deducted should be indicated with minus sign.) D 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLEASE ANSWER WITHOUT IMAGE
![Required information
[The following information applies to the questions displayed below]
As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance
was $15,200. The following information is available.
1. Deposit in transit: $2,400.
2. Credit memo in bank statement for interest earned in June: $30.
3. Outstanding check: $6,690.
4. Debit memo for service charge: $20.
Required
a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.
(Amounts to be deducted should be indicated with minus sign.)
D
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F156316e8-e058-4592-8f18-83c641282f8d%2F849230c0-55b4-448e-b796-2c718e27b244%2Fzmohx3h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance
was $15,200. The following information is available.
1. Deposit in transit: $2,400.
2. Credit memo in bank statement for interest earned in June: $30.
3. Outstanding check: $6,690.
4. Debit memo for service charge: $20.
Required
a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.
(Amounts to be deducted should be indicated with minus sign.)
D
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
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