Question

(11 Points) The following information is available for Jade Company for the month ending June 30, 2017. ered Balance as per the bank statement is $11,000. Balance as per books is $10,200. "Check #506 for $1,100 and check #510 for $900 were not shown on the June 30, bank statement. A deposit in transit of $3,225 had not been received by the bank when the bank statement was generated A bank debit memo indicated an NSF check for $90 written by Jane Smith to Jade Company on June stioncheck 13. A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20. The bank statement indicated service charges of $40. What is the adjusted book balance? Select one: O a. $8,200 o b. $12,265 O c. $12,225 d. $8,255

Answer 1

Answer : $12,265

Explanation :

Adjusted book balance =$10200-90+2100+55

=$12,265

Here in the calculation of adjusted book balance deduct the debit memo indicated an NSF check from book balance and add credit memo indicated a note collected by bank (including interest revenue) .