Answered

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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 a $20,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 1,850 Outstanding checks 945 Additionally, a $37 check written and recorded by the company was incorrectly recorded by the bank as a $73 deduction. The adjusted cash balance per the bank records should be:

Sagot :

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Answer:

Bank Statement Balance = $20361

Deposit In Transit. = $1850

Outstanding Checks. = $945

Additional Check. = $73-$36

Adjusted Cash Balance. = $23193

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