The following information is available for Jack's Unlimited Company for the current month.
$$\begin{array} { | l | l | }
\hline \text { Book balance end of the month } & \$ 7100 \
\hline \text { Outstanding cheques } & 700 \
\hline \text { Deposits in transit } & 4000 \
\hline \text { Service charges } & 95 \
\hline \text { Interest revenue } & 35 \
\hline
\end{array}$$
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.
$$\begin{array} { | l | l | } 
\hline \text { Book balance end of the month } & \$ 7100 \
\hline \text { Outstanding cheques } & 700 \
\hline \text { Deposits in transit } & 4000 \
\hline \text { Service charges } & 95 \
\hline \text { Interest revenue } & 35 \
\hline
\end{array}$$
What is the adjusted book balance on the bank reconciliation?

Quizplus · Accepted Answer

The adjusted book balance is calculated by taking the book balance, adding interest revenue, and subtracting service charges: $7100 + $35 - $95 = $7040.

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