Ryan Company deposits all cash receipts on the day they are received and makes a

Question

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $26,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following:

Additionally, a $38 check written and recorded by the company correctly was recorded by the bank as a $83 deduction.
The adjusted cash balance per the bank records should be:

$28,142

$28,097

$30,725

$28,187

$22,087

Explanation / Answer

Adjusted balance = 26361 +3050 -1269 + (83 -38)

                           = 28187

correct option is "D"

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.