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question 27 question 28 Franklin Company...

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Accounting

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question 28
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Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $19,662. Franklin's August bank statement shows $19,437 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit $6,450 $5, 200 $ 115 Outstanding checks Bank service fees, not yet recorded by company The bank collected on a note receivable, not yet recorded by the company $1,140 The adjusted cash balance should be: Multiple Choice $25,887 27 $14,237. $20,802 $19,547 $20,687 Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, its Cash account shows a debit balance of $62,209. Easton's June bank statement shows $59,949 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned on account, not yet recorded by the company $4,400 $2,125 %24 19 %24 34 The adjusted cash balance should be: Multiple Choice $62,190 $62,243 $64,349 $57,824 $62,224

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