The following information is available for Jack's Unlimited Company for the current month. What is the adjusted book balance on the bank reconciliation?
A)$9,600
B)$7,480
C)$6,755
D)$6,825

Question

The following information is available for Jack's Unlimited Company for the current month.  What is the adjusted book balance on the bank reconciliation?
A)$9,600 
B)$7,480 
C)$6,755 
D)$6,825

Quizplus · Accepted Answer

Starting book balance: $7,940 
Addition: deposit in transit $2,120 
Subtractions: outstanding checks $2,355 
NSF check: $400 
Bank service charges: $480 
Adjusted book balance = starting book balance + additions - subtractions 
= $7,940 + $2,120 - $2,355 - $400 - $480 
= $6,825

The Following Information Is Available for Jack's Unlimited Company for the Current