The following information is available for Jack's Unlimited Company for the current month. $$\begin{array} { | l | r | }
\hline \text { Book balance end of the month } & \$ 6,875 \
\hline \text { Outstanding checks } & 655 \
\hline \text { Deposits in transit } & 3,500 \
\hline \text { Service charges } & 85 \
\hline \text { Interest revenue } & 35 \
\hline
\end{array}$$ What is the adjusted book balance on the bank reconciliation?

Question

The following information is available for Jack's Unlimited Company for the current month. $$\begin{array} { | l | r | } 
\hline \text { Book balance end of the month } & \$ 6,875 \
\hline \text { Outstanding checks } & 655 \
\hline \text { Deposits in transit } & 3,500 \
\hline \text { Service charges } & 85 \
\hline \text { Interest revenue } & 35 \
\hline
\end{array}$$ What is the adjusted book balance on the bank reconciliation?

Quizplus · Accepted Answer

Adjusted book balance = book balance - outstanding checks + deposits in transit + or - any other necessary adjustments

Adjusted book balance = $6,875 - $655 + $3,500 + $35 - $85 = $6,825

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