Owen Company's unadjusted book balance at June 30 is $15,700. The company's bank statement reveals bank...
- Owen Company's unadjusted book balance at June 30 is $15,700. The company's bank statement reveals bank service charges of $55. Two credit memos are included in the bank statement: one for $1,900, which represents a collection that the bank made for Owen, and one for $150, which represents the amount of interest that Owen had earned on its interest-bearing account in June. Based on this information. Deposit in transit $2,500 and Outstanding checks $767. Owen's true cash balance is:
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Book Reconciliation |
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Unadjusted Book Balance |
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Add: |
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Subtract: |
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True Cash Balance |
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Homework Answers
| OWEN COMPANY | ||
| Bank Reconciliation | ||
| Unadjusted Book Balance | $15,700 | |
| Add: Collection by Bank | $1,900 | |
| Interest Earned | $150 | $2,050 |
| $17,750 | ||
| Less: Bank service charges | $55 | |
| Adjusted Balance per company records | $17,695 | |
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Owen Company's unadjusted book balance at June 30 is $15,700.
The company's bank statement reveals bank...
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