Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ryan company deposits all cash receipts on the day

Ryan Company deposits all cash receipts on the day they are received and makes all...

80.2K

Verified Solution

Question

Accounting

image
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $21,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Additionally, a $39 check written and recorded by the company was incorrectly recorded by the bank as a $93 deduction. The adjusted cash balance per the bank records should be: Multiple Choice $24,464 $22.466 Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $21,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Additionally, a $39 check written and recorded by the company was incorrectly recorded by the bank as a $93 deduction. The adjusted cash balance per the bank records should be: Multiple Choice $24,464 $22.466

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