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As of June 30, Year 2, the bank statement showed an ending balance of $18.744. The unadjusted Cash account balance was $17,617. The following information is available: 1. Deposit in transit, $2,585. 2. Credit memo in bank statement for interest earned in June, $12. 3. Outstanding check, $3,713. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2

As of June 30, Year 2, the bank statement showed an ending balance of $18.744. The unadjusted Cash account balance was $17,617. The following information is available: 1. Deposit in transit, $2,585. 2. Credit memo in bank statement for interest earned in June, $12. 3. Outstanding check, $3,713. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 44E
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Exercise 4-10A (Algo) Adjusting the cash account LO 4-3 As of June 30, Year 2, the bank statement showed an ending balance of $18,744. The unadjusted Cash account balance was $17,517. The following information is available: 1. Deposit in transit, $2,585. 2. Credit memo in bank statement for interest earned in June, $12. 3. Outstanding check, $3,713. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2
Transcribed Image Text:Exercise 4-10A (Algo) Adjusting the cash account LO 4-3 As of June 30, Year 2, the bank statement showed an ending balance of $18,744. The unadjusted Cash account balance was $17,517. The following information is available: 1. Deposit in transit, $2,585. 2. Credit memo in bank statement for interest earned in June, $12. 3. Outstanding check, $3,713. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 2 True cash balance 6/30/Year 2 Unadjusted book balance 6/30/Year 2 True cash balance 6/30/Year 2
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