Jamison Company gathered the following reconciling information in preparing its June bank reconciliation:

Using the above information,determine the cash balance per books (before adjustments)for Jamison Company.
A) $8,065
B) $10,565
C) $15,065
D) $6,435

Question

Jamison Company gathered the following reconciling information in preparing its June bank reconciliation: ​
​
 Using the above information,determine the cash balance per books (before adjustments)for Jamison Company.
A) $8,065 
B) $10,565 
C) $15,065 
D) $6,435

Quizplus · Accepted Answer

The cash balance per books (before adjustments) can be calculated as follows:

Beginning balance per books + deposits in transit - outstanding checks = cash balance per books

$10,400 (beginning balance per books) - $1,800 (outstanding checks) = $8,600

Therefore, the correct answer is D) $6,435, which is the only option closest to the calculated balance.

Jamison Company Gathered the Following Reconciling Information in Preparing Its