None The following data apply to Pro Beauty Supply Incorporated for May Year 1:1. Balance per the bank on May 31: $12,120.2. Deposits in transit not recorded by the bank: $1,930.3. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account: $950.4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement:301330543056$ 1455701,1505. Note collected by the bank: $550.6. Service charge for collection of note: $13.7. The bookkeeper mistakenly recorded a check for $569 but the check was correctly written for May utilities in the amount of $659.8. Bank service charge in addition to the note collection fee: $30.9. Customer checks returned by the bank as NSF: $112.Required:Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books.Unadjusted cash balance

Bank reconciliations are prepared at the end of each accounting period.It is the process of identify…

Answered: Required: Determine the amount of the…

Business

Accounting

Required: Determine the amount of the unadjus Unadjusted cash balance

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 5E

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

None

The following data apply to Pro Beauty Supply Incorporated for May Year 1:
1. Balance per the bank on May 31: $12,120.
2. Deposits in transit not recorded by the bank: $1,930.
3. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account: $950.
4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement:
3013
3054
3056
$ 145
570
1,150
5. Note collected by the bank: $550.
6. Service charge for collection of note: $13.
7. The bookkeeper mistakenly recorded a check for $569 but the check was correctly written for May utilities in the amount of $659.
8. Bank service charge in addition to the note collection fee: $30.
9. Customer checks returned by the bank as NSF: $112.
Required:
Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books.
Unadjusted cash balance

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Accounting for Cash and cash equivalents

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