The unadjusted cash account balance for Carson Company at December 31 is $12,815. The bank...
90.2K
Verified Solution
Link Copied!
Question
Accounting
The unadjusted cash account balance for Carson Company at December 31 is $12,815. The bank statement showed an ending balance of $18,350 at December 31. The following Information is available from an examination of the bank statement and the company's accounting records : Bank service charge Outstanding checks NSF check from a customer Deposits in transit $ 40 7,700 465 1,462 Check number 433 for the purchase of inventory was written correctly and paid by the bank correctly for $652 , but was recorded on the books at $256 . Carson uses the perpetual inventory system . Required : a ) Determine the true cash balance by preparing a bank reconciliation as of December 31. to be deducted should be indicated with a minus sign .
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
