Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $29.361 balance in the bank. Ryan's comparison of the bank statement to its cash accountrevealed the following:Deposit in transitOutstanding checksMultiple ChoiceAdditionally, a $49 check written and recorded by the company was incorrectly recorded by the bank as a $94 deduction.The adjusted cash balance per the bank records should be:OOO$31,580$31,535$34,487$31,6253,6501,431$24,325Seved< Prev24 of 28ENext >(?)

Bank reconciliation statement is the statement of those banking & business transactions which…

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $29.361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks Additionally, a $49 check written and recorded by the company was incorrectly recorded by the bank as a $94 deduction The adjusted cash balance per the bank records should be: Multiple Choice 3,650 1,431 $31.580

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $29.361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks Additionally, a $49 check written and recorded by the company was incorrectly recorded by the bank as a $94 deduction The adjusted cash balance per the bank records should be: Multiple Choice 3,650 1,431 $31.580

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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