Question

Jamison Company gathered the following reconciling information in preparing its June bank reconciliation: Cash balance per bank, June 30$13,000 Note receivable collected by bank4,000 Outstanding checks7,000 Deposits in transit2,500 Bank service charge35 NSF check1,900 Using the above information, determine the cash balance per books (before adjustments) for Jamison Company. a.$15,065 b.$6,435 c.$8,065 d.$10,565

Answer 1

b. $6,435

Step-by-step explanation:

With regards to the above, balance per books before adjustment is computed as

= Cash balance per bank - Note receivable collected by bank - Outstanding check

= $13,000 - $4,000 - $7,000 + $35 + $1,900 + $2,500

= $6,435