Essay
The unadjusted cash account balance for Carson Company at December 31 is $12,615. The bank statement showed an ending balance of $18,250 at December 31. The following information is available from an examination of the bank statement and the company's accounting records:
Check #433 for the purchase of inventory was written correctly and paid by the bank correctly for $432, but was recorded on the books at $234. Carson uses the perpetual inventory system.
Required:a)Determine the true cash balance by preparing a bank reconciliation as of December 31.
Correct Answer:
Verified
Correct Answer:
Verified
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