Homework Help is Here – Start Your Trial Now!
Business
Accounting
The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount

The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
See similar textbooks
icon
Related questions
Question

please step by step solution.

 

 

The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount
Transcribed Image Text:The Cash account in the general ledger showed a balance of $3,600 at June 30. The bank statement showed a balance of $4,500 at June 30. The only reconciling items consisted of a $700 deposit in transit, a bank service charge of $7, and several outstanding checks. What is the total amount of outstanding checks at June 30? A. $1,513 B . $1,486 C. $1,607 D. Some other amount
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS