Required information Exercise 6-10A (Algo) Adjusting the cash account LO 6-3 [The following information applies to...

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Required information Exercise 6-10A (Algo) Adjusting the cash account LO 6-3 [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $17,388. The unadjusted Cash account balance was $16,182. The following information is available: 1. Deposit in transit: $2,240. 2. Credit memo in bank statement for interest earned in June: $16. 3. Outstanding check: $3,438. 4. Debit memo for service charge: $8. Exercise 6-10A (Algo) Part a Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Amounts to be deducted should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ 0 0 Required information Exercise 6-10A (Algo) Adjusting the cash account LO 6-3 [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $17,388. The unadjusted Cash account balance was $16,182. The following information is available: 1. Deposit in transit: $2,240. 2. Credit memo in bank statement for interest earned in June: $16. 3. Outstanding check: $3,438. 4. Debit memo for service charge: $8. Exercise 6-10A (Algo) Part a Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Amounts to be deducted should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 True cash balance 6/30/Year 1 $ $ 0 0

Answer rating: 100% (QA)

To prepare a bank reconciliation as of June 30 Year 1 well follow these steps 1 Start with the unadj... View the full answer