contestada

The following information is available for Trinkle Company for the month of June:

a. The unadjusted balance per the bank statement on June 30 was $56,193.
b. Deposits in transit on June 30 were $2,350.
c. A debit memo was included with the bank statement for a service charge of $8.
d. A $4,862 check written in June had not been paid by the bank.
e. The bank statement included a $600 credit memo for the collection of a note.
f. The principal of the note was $545, and the interest collected amounted to $55.

Required:
Determine the true cash balance as of June 30.

Respuesta :

Answer:

Following are the solution the given question:

Explanation:

                                    [tex]\text{Trinkle Company}\\\\ \text{Bank Reconciliation Statement(Partly)}\\\\ \text{As on June 30}[/tex]

[tex]\text{Balance as per Bank statement} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$56,193\\\\\text{Add : deposit in transit} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$2,350\\\\[/tex]

                                                                          [tex]\$58,543[/tex]

[tex]\text{Less: Outstanding Checks} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$4,862\\\\\text{Adjusted Bank Balance} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$53,681\\\\[/tex]

[tex]\text{The true cash balance on June 30 is} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$53,681[/tex]

   

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