Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. nickleson company had an unadjusted cash balance o

Nickleson Company had an unadjusted cash balance of $9,432 as of May 31. The company's...

70.2K

Verified Solution

Question

Accounting

Nickleson Company had an unadjusted cash balance of $9,432 as of May 31. The company's bank statement, also dated May 31, included a $93 NSF check written by one of Nickleson's customers. There were $1,072 in outstanding checks and $230 in deposits in transit as of May 31. According to the bank statement, service charges were $35, and the bank collected an $1,400 note receivable for Nickleson. bank statement also showed $23 of Interest revenue earned by Nickleson. Required: Determine the true cash balance as of May 31. ( HintIt is not necessary to use all of the preceding items to determine the true balance.)

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

a) A portfolio manager wants to estimate the interest rate risk of a bond using duration....

Finance
Q

Did I answer these correctly? Too many true answers based on my research. Uncertain about 1,...

Psychology
Q

Select the one true statement.Mitochondria break down sugar to release energy that an animal cell...

Biology
Q

Determine what ADDITIONAL INFORMATION would be necessary to prove the two congruent using the suggested...

Geometry
Q

ties of rigid motion Starting b Rob says that AB AC and BD CD Do...

Geometry
Q

Identify the hypothesis and the conclusion of the conditional stateme If it is hot then...

Geometry
Q

The given urn contains green G blue B and red R balls Assume that two...

Basic Math
Q

Find the horizontal asymptotes of f x 3x 6x 9 4x 6x4 Use symbolic notation...

Calculus
Q

If a varies jointly as b and c and a 27 when b 18 and...

Calculus
Q

Sandhill Realty Ltd. is a land developer...

Accounting
Q

You are provided with the following information for Lily Inc. for the month ended June...

Accounting
Q

T or F? A declining fixed asset turnover ratio can actually be caused by acquiring...

Accounting