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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 $17,120. The unadjusted Cash account balance was $16,442. The following information is available: 1. Deposit in transit: $2,715. 2. Credit memo in bank statement for interest earned in June: $12. 3. Outstanding check: $3,389. 4. Debit memo for service charge: $8. ,

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 $17,120. The unadjusted Cash account balance was $16,442. The following information is available: 1. Deposit in transit: $2,715. 2. Credit memo in bank statement for interest earned in June: $12. 3. Outstanding check: $3,389. 4. Debit memo for service charge: $8. ,

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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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.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 $ nces Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 2$
Transcribed Image Text: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.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 $ nces Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 2$
Required information 1 of 2 [The following information.applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $17,120. The unadjusted Cash account balance was $16,442. The following information is available: 1. Deposit in transit: $2,715. 2. Credit memo in bank statement for interest earned in June: $12. 3. Outstanding check: $3,389. 4. Debit memo for service charge: $8. Skipped eBook 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.) Hint Print Bank Reconciliation Unadjusted bank balance 6/30/Year 1
Transcribed Image Text:Required information 1 of 2 [The following information.applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $17,120. The unadjusted Cash account balance was $16,442. The following information is available: 1. Deposit in transit: $2,715. 2. Credit memo in bank statement for interest earned in June: $12. 3. Outstanding check: $3,389. 4. Debit memo for service charge: $8. Skipped eBook 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.) Hint Print Bank Reconciliation Unadjusted bank balance 6/30/Year 1
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