As of June 30, 2012, the bank statement showed an ending balance of $13,879.85. The unadjusted Cash

Question:

As of June 30, 2012, the bank statement showed an ending balance of $13,879.85. The unadjusted Cash account balance was $13,483.75. The following information is available:

1. Deposit in transit, $1,476.30.

2. Credit memo in bank statement for interest earned in June, $35.

3. Outstanding check, $1,843.74.

4. Debit memo for service charge, $6.34.

Required

Determine the true cash balance by preparing a bank reconciliation as of June 30, 2012, using the preceding information.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Survey of Accounting

ISBN: 978-0078110856

3rd Edition

Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi

See More Books

Question Posted: May 19, 2012 04:12 AM

See More Questions

As of June 30, 2013, the bank statement showed an ending balance of $15,246. The unadjusted Cash account balance was $14,720. The following information is available: 1. Deposit in transit, $1,390. 2....
As of May 31, 2014, the bank statement showed an ending balance of $26,100. The unadjusted Cash account balance was $27,350. The following information is available: 1. Deposit in transit, $6,981. 2....
As of June 30, 2016, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available: 1. Deposit in transit, $2,400. 2....
Both of the following questions are essentially the same. Does the difference in wording seem as though it could affect the way that people respond? Are you in favor of the "Defense of Marriage...
Stuart Manufacturing Company was started on January 1, 2018, when it acquired $89,000 cash by issuing common stock. Stuart immediately purchased office furniture and manufacturing equipment costing...
To enhance heat rejection from a spacecraft, an engineer proposes to attach an array of rectangular fins to the outer surface of the spacecraft and to coat all surfaces with a material that...
Explain how you would find the value of a bond futures option.
Create a TaxReturn class with fields that hold a taxpayers Social Security number, last name, first name, street address, city, state, zip code, annual income, marital status, and tax liability....
Table 2 TIME Kesler's Fund Vogue Fund's S&P 500s (Beta) T-Bills Return % Return % Return % Return % 2015 15 10 2016 -6 -2 11 -5 6 5 2017 17 13 12 7 2018 18 9 11 6 2019 22 11 13 7 1. Solve for the...
Gregory and Simpson share profits in a proportion of 60:40. Gregory is entitled to a salary allowance of $60 000 p.a., and Simpson is entitled to $50 000 p.a. Capitals are fixed at Gregory $72 000...
Rankin Stationery's bank statement contained a $250 NSF check that one of its customers had written to pay for supplies purchased. Required a. Show the effects of recognizing the NSF check on the...
The following information is available for Hamby Company for the month of June: 1. The unadjusted balance per the bank statement on June 30 was $68,714.35. 2. Deposits in transit on June 30 were...
One of the C--C--C angles of 2,2,4,4-tetramethylpentane is very much larger than the others. Which angle? Why?
What is evidence based Human resource management? Why might an HR department resist becoming evidenced based?
How does the decision-making process vary between high-involvement and low-involvement consumer purchases?
Are there any industry-specific challenges when implementing decision trees in healthcare for disease diagnosis? Explain briefly
Describe the integration strategy that XYZ Corporation should follow to merge ABC Tech into its operations successfully. What key factors should be considered in this integration process?
Calculate the NCH/PPD with the midnight census being 25 when the staffing was the following from 12 midnight to 12 noon: (use up to two decimal places)
Which one of these declarations is a valid method declaration? Select the one correct answer. (a) void method1 { /* ... */ } (b) void method2() { /* ... */ } (c) void method3(void) { /* ... */ } (d)...
If M = 7, s = 2, and X = 9.5, what is z?
In Problems 1942, let w = 2, x = 1, y = 2, and z = 4. Find the values of the given capital letters. J = 2w - Z N
It all comes down to the bottom line. The numbers never lie. Do you agree with this conclusion? Explain your position.
What is an opportunity cost? How does it differ from a sunk cost?
A local bank advertises that it offers a free noninterest-bearing checking account if the depositor maintains a $500 minimum balance in the account. Is the checking account truly free?
Janice will need to pay $200 at the end of every month for the next 12 months, except for the payment of the 8th month. What is the present value, assuming a rate of 4%, compounded quarterly?
List and explain two management tools in the planning process and two measurable performance indicators. Explain in detail.
What does a high PE tell us about the value of the stock price (over or under valued)? What does a low PE tell us about the value of the stock price (over or under valued)? Be specific with your...

As of June 30, 2012, the bank statement showed an ending balance of $13,879.85. The unadjusted Cash

Question:

Step by Step Answer:

Bank Reconciliation Unadjusted Bank Balance 6302012 1387985 A...View the full answer

Survey of Accounting

Students also viewed these Cost Accounting questions