The following Information is avallable for Trinkle Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $56,344. 2. Deposits in transit on June 30 were $2,340. 3. A debit memo was Included with the bank statement for a service charge of $23. 4. A $5,099 check written in June had not been pald by the bank. 5. The bank statement Included a $1,450 credit memo for the collection of a note. The principal of the note was $1,405, and the Interest collected amounted to $45. 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 avallable for Trinkle Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $56,344. 2. Deposits in transit on June 30 were $2,340. 3. A debit memo was Included with the bank statement for a service charge of $23. 4. A $5,099 check written in June had not been pald by the bank. 5. The bank statement Included a $1,450 credit memo for the collection of a note. The principal of the note was $1,405, and the Interest collected amounted to $45. 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
Related questions
Question
![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 $56,344.
2. Deposits In transit on June 30 were $2,340.
3. A debit memo was Included with the bank statement for a service charge of $23.
4. A $5,099 check written In June had not been pald by the bank.
5. The bank statement Included a $1,450 credit memo for the collection of a note. The principal of the note was $1,405, and the
Interest collected amounted to $45.
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F437d091c-bafd-402f-b1ab-0058f5d0273f%2F7d54d9fa-7822-489d-a4f6-7aba962ce3e7%2Fi64mg7d_processed.jpeg&w=3840&q=75)
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 $56,344.
2. Deposits In transit on June 30 were $2,340.
3. A debit memo was Included with the bank statement for a service charge of $23.
4. A $5,099 check written In June had not been pald by the bank.
5. The bank statement Included a $1,450 credit memo for the collection of a note. The principal of the note was $1,405, and the
Interest collected amounted to $45.
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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