Determining the true cash balance, starting with the unadjusted bank balance
The following information is available for Stone Company for the month of August:
1. The unadjusted balance per the bank statement on August 31 was S56.300.
2. Deposits in transit on August 31 were S2.600.
3. A debit memo was included with the bank statement for a service charge of S20.
4. A $4,925 check written in August had not been paid by the bank.
5. The bank statement included a $ 1,000 credit memo for the collection of a note. The principal of the note was $950, and the interest collected was $50.
Required
Determine the true cash balance as of August 31. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.