Easton CoDeposits All Cash Receipts on the Day They Are Received

question 118

Multiple Choice

Easton Co.deposits all cash receipts on the day they are received and makes all cash payments by check.At the close of business on June 30,its Cash account shows a debit balance of $60,209.Easton's June bank statement shows $58,349 on deposit in the bank.Determine the adjusted cash balance using the following information: The adjusted cash balance should be:

• A)$60,194
• B)$60,239
• C)$62,149
• D)$56,424
• E)$60,224

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Definitions:

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