Question: Problem A (25 points) At August 31 Kiner Company has this bank information: cash balance per bank 89,450, outstanding checks S762: deposits in transit $1,700;

 Problem A (25 points) At August 31 Kiner Company has this

Problem A (25 points) At August 31 Kiner Company has this bank information: cash balance per bank 89,450, outstanding checks S762: deposits in transit $1,700; and a bank service charge $20. Determine the adjusted cash balance per bank at August 31, 2017. Problem B (25 points) Given the following information, a) determine the adjusted cash balance per books and, b) prepare the journal entries required; Balance per books as of June 30 $8,800 Outstanding checks $600 NSF check returned with bank statement $130 Deposit mailed the afternoon of June 30 S300 Check printing charges $30 Interest earned on checking account S40 a) Problem C (10 points) Show the journal entry to set up a petty cash fund for $300

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!