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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text: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
Multiple Choice
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:
O
O
$31,580
$31,535
$34,487
$31,625
3,650
1,431
$24.325
H
Seved
O
< Prev
24 of 28
Help
Next >
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