Question

The following information is available for Trinkle Company for the month of June: The unadjusted balance per the bank statement on June 30 was $56,084. Deposits in transit on June 30 were $2,655. A debit memo was included with the bank statement for a service charge of $22. A $4,418 check written in June had not been paid by the bank. The bank statement included a $800 credit memo for the collection of a note. The principal of the note was $775, and the interest collected amounted to $25. Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)

Answer 1

$54,321

Step-by-step explanation:

Prepare a Bank Reconciliation statement to determine the true cash balance as of June 30.

Bank Reconciliation statement as at June 30

Balance as per Bank Statement $56,084

Add Outstanding Lodgments $2,655

Less Unpresented Checks ($4,418)

Balance as per Cash Book $54,321

Conclusion

The true cash balance as of June 30 is $54,321.