Tim VanWinkle operates a FedEx Kinko's store. He has just received the monthly bank statement at May

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Tim VanWinkle operates a FedEx Kinko's store. He has just received the monthly bank statement at May 31 from City National Bank, and the statement shows an ending balance of $595. Listed on the statement are an EFT rent collection of $300, a service charge of $12, two NSF checks totaling $120 and a $9 charge for printed checks. In reviewing his cash records, VanWinkle identifies outstanding checks totaling $603 and a May 31 deposit in transit of $1,788. During May, he recorded a $290 check for the salary of a part-time employee as $29. VanWinkle's Cash account shows a May 31 cash balance of $1,882. How much cash does VanWinkle actually have at May 31?
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Financial Accounting

ISBN: 978-0135012840

7th edition

Authors: Walter T. Harrison, Charles T. Horngren

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