The following information is available for Trinkle Company for the month of June: 1. The unadjusted balance

Question:

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 $81,500.
2. Deposits in transit on June 30 were $3,150.
3. A debit memo was included with the bank statement for a service charge of $40.
4. A $5,611 check written in June had not been paid by the bank.
5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50.
Required
Determine the true cash balance as of June 30.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamental Financial Accounting Concepts

ISBN: 978-0078025907

9th edition

Authors: Thomas Edmonds, Christopher Edmonds

Question Posted: