# A bank statement shows a balance of 8445 at june 30

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Chapter 6 / Exercise P6-16
Intermediate Accounting: Reporting and Analysis
Jones/Wahlen
Expert Verified
14. A bank statement shows a balance of \$8,445 at June 30. The bank reconciliation is prepared and includes outstanding checks of \$2,790, deposits in transit of \$1,350, and a bank service charge of \$30. Among the paid checks returned by the bank was check no. 900 in the amount of \$600, which the company had erroneously recorded in the accounting records as \$60. The "adjusted cash balance" at June 30 is: a. \$6,975. b. \$6,465. c. \$7,005. d. \$7,575. \$8,445 - \$2,790 + \$1,350 = \$7,005
Chapter 7 Exam - 2
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Chapter 6 / Exercise P6-16
Intermediate Accounting: Reporting and Analysis
Jones/Wahlen
Expert Verified
15. Silver Company received a two-month, 6% note for \$16,000 on August 5. Which of the following statements is true?
16. A bank reconciliation explains the differences between:
17. Taylor, Inc. had accounts receivable of \$310,000 and an allowance for doubtful accounts of \$19,500 just before writing off as worthless an account receivable from Burton Company of \$1,300. The net realizable value of the accounts receivable before and after the write-off were: