Reference no: EM132768134
Problem - Use the following information for the next three questions:
Kriselda Co. has the following information for the months of June and July.
|
|
June 30
|
July 31
|
|
Book balance
|
?
|
9,300
|
|
Book debits
|
|
30,700
|
|
Book credits
|
|
27,000
|
|
Bank balance
|
10,200
|
16,800
|
|
Bank debits
|
|
21,300
|
|
Bank credits
|
|
?
|
|
Notes collected by bank
|
2,250
|
3,000
|
|
Bank service charge
|
20
|
100
|
|
NSF checks
|
880
|
1,400
|
|
Understatement of recorded cash collections
|
1,900
|
1,200
|
|
Deposit in transit
|
6,000
|
11,250
|
|
Outstanding checks
|
9,750
|
17,850
|
|
Loan amortization of Kristeta Corp. erroneously debited to Kriselda Co.'s account
|
2,400
|
1,800
|
Required -
1. How much is the adjusted cash receipts in July?
a. 24,150 b. 27,900 c. 30,750 d. 24,350
2. How much is the adjusted cash disbursements in July?
a. 27,600 b. 27,900 c. 21,000 d. 21,600
3. How much is the adjusted cash balance as of July 31?
a. 12,000 b. 8,850 c. 15,930 d. 14,600