Homework Help is Here – Start Your Trial Now!
Business
Accounting
At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank

At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...
See similar textbooks
icon
Related questions
Question
Please answer this question correctly
Brief Exercise 8-13 At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank
Transcribed Image Text:Brief Exercise 8-13 At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank
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
Knowledge Booster
Pension Funds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
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
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS