Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 6. the cash account of safe and secure security sy

6. The Cash account of Safe and Secure Security Systems reported a balance of $2,490...

60.1K

Verified Solution

Question

Accounting

6. The Cash account of Safe and Secure Security Systems reported a balance of $2,490 at May 31, 2011. There were outstanding checks totaling $500 and a May 31 deposit in transit of $300. The bank statement, which came from Tri Cities Bank, listed the May 31 balance of $3,360. Included in the bank balance was a collection of $680 on account from Ryan Saar, a Safe and Secure customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Safe and Secure earned on its bank balance.

R1. Prepare Safe and Securer

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

LO4 Under the cash basis of accounting, revenue is recorded whenit is received in...

Basic Math
1.2K views

: An observational study is conducted to investigate the association between age and total serum cholesterol. The...

Economics
1.2K views

Moral Dilemma A moral dilemma involves a situation in which the agent has only two courses of...

Physics
1.2K views

A diffraction grating has a chromatic resolving power of 20,000 in first order (m = 1)....

Statistics
1.2K views

Age 11 18 19 26 27 34 35 42 Frequency 2 4 6 4 The...

Calculus
1.2K views

Comparison of Companies Revenues The rate of change of the revenue of company A over...

Calculus
1.2K views

Question Find the volume of a solid of revolution formed by revolving the region bounded...

Accounting
1.2K views

Baltimore Manufacturing had a Work in Process balance of $61,000 on January 1, 2018. The...

Accounting
1.2K views

Peterson Company incurred the following high and low maintenance costs totals during 2008: $370,000 at...

Accounting
1.2K views

ASSIGNMENT-WEEK 4 London Enterprises uses a standard cost system in its widget division. The...

Accounting
1.2K views

A variety of depreciation methods are used to allocate the cost of an asset to...

Finance
1.2K views

Use Exhibit 5.1 and assume the 2015 Estimated sale (revenue) is 95. Assuming we're forecasting...