The April 30 bank statement for Trimble Corporation shows an ending balance of $35,192. The unadjusted...
The April 30 bank statement for Trimble Corporation shows an ending balance of $35,192. The unadjusted cash account balance was $29,150. The accountant for Trimble gathered the following information:
There was a deposit in transit for $4,406.
The bank statement reports a service charge of $59.
A credit memo included in the bank statement shows interest earned of $215.
Outstanding checks totaled $11,362.
The bank statement included a $1,070 NSF check deposited in April.
What is the true cash balance as of April 30?
1. $28,236
2. $32,642
3. $27,166
4. $32,427
Homework Answers
1. $28,236
True cash balance as of April 30 = Unadjusted bank balance + Deposit in transit - Outstanding checks = $35,192 + $4,406 - $11,362 = $28,236
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