Question: Hello I need help with this assignment please As of June 30, 2018, the bank statement showed an ending balance of $19,225. The unadjusted Cash
Hello I need help with this assignment please




As of June 30, 2018, the bank statement showed an ending balance of $19,225. The unadjusted Cash account balance was $1133! The following information is available: 1. Deposit in transit, $2,095. 2. Credit memo in bank statement for interest earned in June, $6. 3. Outstanding check, $3,990. 4. Debit memo for service charge. $13. Req uired Determine the true cash balance by preparing a bank reconciliation as of June 30. 2013, using the preceding information. [Negative amounts should be indicated with minus sign.) True cash balance GIMME Unadjusted book balance 61"30l2018 True cash balance GIMME 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 $55,080. 2. Deposits in transit on June 30 were $2,010. 3. A debit memo was included with the bank statement for a service charge of $19. 4. A $5,526 check written in June had not been paid by the bank. 5. The bank statement included a $1,150 credit memo for the collection of a note. The principal of the note was $1,100, and the interest collected amounted to $50. Req uired 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.) :I Nickleson Company had an unadjusted cash balance of $4,422 as of May 31. The company's bank statement, also dated May 31, included a $58 NSF check written by one of Nickleson's customers. There were $1,014 in outstanding checks and $250 in deposits in transit as of May 31. According to the bank statement, service charges were $25, and the bank collected a $550 note receivable for Nickleson. The bank statement also showed $16 of interest revenue earned by Nickleson. Required Determine the true cash balance as of May 31. (Hint It is not necessary to use all of the preceding items to determine the true balance.) _:I Following is a bank reconciliation for Zocar Enterprises for June 30. 2013. Cash Bank Account statement Balance as of 6f30f2018 $23,735 $21,525 Deposit in transit 4,350 Outstanding checks (510} Note collected by bank 2,205 Bank service charge (25} \"SF check (SOD! Adjusted cash balance as of GISUIZDla $25,355 $25,355 As part of the normal process for handling an NSF check, the accounting clerk has notied the customer that their account did not contain sufcient funds to pay the balance owed to the company. The customer was told that they will need to provide an alternative form of payment to cover the outstanding balance. Required a. Prepare the adjustment that the clerk would have made to record the NSF check. _::-:-:E
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
