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Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Its Cash account shows a debit balance of $71,209. Easton's June bank statement shows a $67,149 balance in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned, not yet recorded by the company The adjusted cash balance should be: Multiple Choice О $71,261 О $71,172 O $74,249 O $71,224 $7,100 $3,025 $ 37 $ 52 Multiple Choice $71,261 $71,172 $74,249 $71,224 $64,124

Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Its Cash account shows a debit balance of $71,209. Easton's June bank statement shows a $67,149 balance in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned, not yet recorded by the company The adjusted cash balance should be: Multiple Choice О $71,261 О $71,172 O $74,249 O $71,224 $7,100 $3,025 $ 37 $ 52 Multiple Choice $71,261 $71,172 $74,249 $71,224 $64,124

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Its Cash account shows a debit balance of $71,209. Easton's June bank statement shows a $67,149 balance in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned, not yet recorded by the company The adjusted cash balance should be: Multiple Choice О $71,261 О $71,172 O $74,249 O $71,224 $7,100 $3,025 $ 37 $ 52
Transcribed Image Text:Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, Its Cash account shows a debit balance of $71,209. Easton's June bank statement shows a $67,149 balance in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned, not yet recorded by the company The adjusted cash balance should be: Multiple Choice О $71,261 О $71,172 O $74,249 O $71,224 $7,100 $3,025 $ 37 $ 52
Multiple Choice $71,261 $71,172 $74,249 $71,224 $64,124
Transcribed Image Text:Multiple Choice $71,261 $71,172 $74,249 $71,224 $64,124
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