Ch 7 - Suggested Practice Problems Chapter 7 BRIEF EXERCISE 7-6(a(b(c(d Outstanding checks-deducted from cash balance per bank Bank service

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Suggested Practice Problems Chapter 7 BRIEF EXERCISE 7-6 (a) Outstanding checks—deducted from cash balance per bank. (b) Bank service charge—deducted from cash balance per books. (c) Collection of note by bank—added to cash balance per books. (d) Deposit in transit—added to cash balance per bank. BRIEF EXERCISE 7-11 GUREK COMPANY Cash Budget For January Beginning cash balance. .................................................................................. $12,000 Add: Cash receipts. ......................................................................................... 60,000 Total available cash. .......................................................................................... 72,000 Less: Cash disbursements. ............................................................................. 67,000 Excess of available cash over cash disbursements. .................................... 5,000 Financing needed. ............................................................................................. 3,000 Ending cash balance. ........................................................................................ $ 8,000 EXERCISE 7-6 (a) Cash balance per bank statement. ................................ $3,660.20 Add: Deposits in transit. .............................................. 590.00
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This note was uploaded on 04/02/2008 for the course ACCT 200 taught by Professor Cohen during the Spring '07 term at University of Arizona- Tucson.

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Ch 7 - Suggested Practice Problems Chapter 7 BRIEF EXERCISE 7-6(a(b(c(d Outstanding checks-deducted from cash balance per bank Bank service

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