As of May 31, 2010, the bank statement showed an ending balance of $18,500. The unadjusted Cash
Question:
As of May 31, 2010, the bank statement showed an ending balance of $18,500. The unadjusted Cash account balance was $16,950. The following information is available.
1. Deposit in transit, $2,630.
2. Credit memo in bank statement for interest earned in May, $25.
3. Outstanding check, $4,208.
4. Debit memo for bank service charge, $53.
Required
Determine the true cash balance by preparing a bank reconciliation as of May 31, 2010, using the preceding information.
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Bank Reconciliation Unadjusted Bank Balance 5312010 18500 Add ...View the full answer
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