The following information is available for Trinkle Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $58,305. 2. Deposits in transit on June 30 were $2,675. 3. A debit memo was included with the bank statement for a service charge of $12. 4. A $5,229 check written in June had not been paid by the bank. 5. The bank statement included a $1,050 credit memo for the collection of a note. The principal of the note was $1,020, and the interest collected amounted to $30. Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance) True cash balance
The following information is available for Trinkle Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $58,305. 2. Deposits in transit on June 30 were $2,675. 3. A debit memo was included with the bank statement for a service charge of $12. 4. A $5,229 check written in June had not been paid by the bank. 5. The bank statement included a $1,050 credit memo for the collection of a note. The principal of the note was $1,020, and the interest collected amounted to $30. Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance) True cash balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information is available for Trinkle Company for the month of June:
1. The unadjusted balance per the bank statement on June 30 was $58,305.
2. Deposits in transit on June 30 were $2,675.
3. A debit memo was included with the bank statement for a service charge of $12.
4. A $5,229 check written in June had not been paid by the bank.
5. The bank statement included a $1,050 credit memo for the collection of a note. The principal of the note was $1,020, and the
interest collected amounted to $30.
Required
Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true
balance.)
True cash balance
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