l https:// html As of June 30, 2018, the bank statement showed an ending balance

Question

l https:// html As of June 30, 2018, the bank statement showed an ending balance The following information is available: of $18.345. The unadjusted Cash account balance was $17434. 1. Deposit in transit, $2,590 2 Credit memo in bank statement for interest earned in June, $12. 3. Outstanding check, $3,496 4. Debit memo for service charge, $7 Required Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negetive emounts should be indicated with minus sign.) 018

Explanation / Answer

Bank Reconciliation Statement as of June 30,2018 Unadjusted bank balance 6/30/2018        18,345 Add: Deposit in transit 2,590 Less: Outstanding check         -3,496 True cash balance 6/30/2018        17,439 Unadjusted book balance 6/30/2018        17,434 Add: Credit memo for interest earned 12 Less: Debit memo for service charge                 -7 True cash balacne 6/30/2018        17,439

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