Please fix this, it is incorrect. Timmins Company of Emporia, Kansas, spreads herbicides and applies...
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Please fix this, it is incorrect. Timmins Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May the company's Cash account per its general ledger showed a balance of $ The bank statement from Emporia State Bank on that date showed the following balance. Emporia State Bank Checks and Debits XXX Deposits and Credits XXX Daily Balance A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. The statement included a debit memo of $ for the printing of additional company checks. Cash sales of $ on May were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $ The bank credited Timmins Company for the correct amount. Outstanding checks at May totaled $ and deposits in transit were $ On May the company issued check No for $ to H Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Timmins Company for $ $ was collected from a customer's note receivable by the bank for Timmins Company on May through electronic funds transfer. Included with the canceled checks was a check issued by Tomins Company to C Pernod for $ that was incorrectly charged to Timmins Company by the bank. On May the bank statement showed an NSF charge of $ for a check issued by Sara Ballard, a customer, to Timmins Company on account. What is the adjusted cash balance? Note, this is not asking you to do a full bank reconciliation.
Please fix this, it is incorrect. Timmins Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May the company's Cash account per its general ledger showed a balance of $ The bank statement from Emporia State Bank on that date showed the following balance.
Emporia State Bank
Checks and Debits
XXX
Deposits and Credits
XXX
Daily Balance
A comparison of the details on the bank statement with the details in the Cash account revealed the following facts.
The statement included a debit memo of $ for the printing of additional company checks.
Cash sales of $ on May were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $ The bank credited Timmins Company for the correct amount.
Outstanding checks at May totaled $ and deposits in transit were $
On May the company issued check No for $ to H Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Timmins Company for $
$ was collected from a customer's note receivable by the bank for Timmins Company on May through electronic funds transfer.
Included with the canceled checks was a check issued by Tomins Company to C Pernod for $ that was incorrectly charged to Timmins Company by the bank.
On May the bank statement showed an NSF charge of $ for a check issued by Sara Ballard, a customer, to Timmins Company on account.
What is the adjusted cash balance? Note, this is not asking you to do a full bank reconciliation.
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