The following data apply to Vaughn Sports Inc. for April 2013: 1. Balance per the bank on
Question:
The following data apply to Vaughn Sports Inc. for April 2013:
1. Balance per the bank on April 30, $13,750.
2. Deposits in transit not recorded by the bank, $3,600.
3. Bank error; check written by Don Vaughn on his personal checking account was drawn on Vaughn Sports Inc.’s account, $800.
4. The following checks written and recorded by Vaughn Sports Inc. were not included in the bank statement:
1901 ......$ 265
1920 ...... 650
1921 ...... 1,200
5. Credit memo for note collected by the bank, $1,100.
6. Service charge for collection of note, $50.
7. The bookkeeper recorded a check written for $760 to pay for April’s office supplies as $670 in the cash disbursements journal.
8. Bank service charge in addition to the note collection fee, $45.
9. NSF checks returned by the bank, $175.
Required
Determine the amount of the unadjusted cash balance per Vaughan Sports Inc.’s books.
Step by Step Answer:
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward