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:OO$31,580$31,535$34,487$31,6253,6501,431$24.325HSevedO< Prev24 of 28HelpNext >

Sometimes the balance of the cash book doesn't matches with the bank statement due to several…

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 O O O O $31,580 $31,535 $34,487 $31,625 3,650 1,431 $24,325

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 O O O O $31,580 $31,535 $34,487 $31,625 3,650 1,431 $24,325

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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Sal's Surf Shop deposits all receipts in the bank and makes all payments by check. On July 31 the cash account had a balance of $6,105.42. The bank statement on July 31 reported a balance of $4,146.46. Upon comparing the bank statement to the books, the following items were found.
esc QUESTIONS On May 31, Money Corporation's Cash account showed a balance of $12,000 before the bank reconciliation was prepared. After examining the May bank statement and items included with it, the company's accountant found the following items: Checks outstanding Deposits outstanding NSF check from a customer Service fees Error: Money Corporation wrote a check for $65 but recorded it incorrectly for $650. What is the amount of cash that should be reported in the company's balance sheet as of May 31? O $10,915 O $12,215 O $11,630 O $12.850 None of the above Click Save and Submit to save and submit. Click Save All Answers to save all answers. ! 1 9 F1 Q A 1 N NO @ 2 39 F2 W S #3 X H aption command 20 F3 E D $ 4 Q F4 C R F 07 dº % 5 e F5 T V MacBook Air ^ 6 G F6 Y B & 7 8 H F7 U * 00 8 N $ 1,450 2,300 240 130 DII F8 J ( 1 9 DD K M ) 0 0 Save All F10 E
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