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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