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25 May, 21:34

As of June 30, 2018, the bank statement showed an ending balance of $16,216. The unadjusted Cash account balance was $15,119. The following information is available: Deposit in transit, $2,175. Credit memo in bank statement for interest earned in June, $6. Outstanding check, $3,276. Debit memo for service charge, $10. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negative amounts should be indicated with minus sign.)

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  1. 25 May, 21:48
    0
    Bank Reconciliation Statement

    Balance as per bank statement $16,216

    Deposit Intransit 2,175

    less Outstanding check 3,276

    Balance as per cash book 15,112

    Explanation:

    The true cash balance equal $15,112
  2. 25 May, 22:00
    0
    Bank reconciliation

    Unadjusted book balance 16,216

    Add: Debit memo for service 10

    Less: Credit memo for int. earned 6

    True cash balance 16,220

    Unadjusted book balance 15,119

    Add: Outstanding check 3,276

    Less: Deposit in transit 2175

    True cash balance 16,220
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