Jamison Company developed the following reconciling information in preparing its June bank reconciliation: Using the above information, determine the cash balance per books (before adjustments) for the Jamison Company.

Question

Jamison Company developed the following reconciling information in preparing its June bank reconciliation:  Using the above information, determine the cash balance per books (before adjustments) for the Jamison Company.

Quizplus · Accepted Answer

The cash balance per books (before adjustments) can be calculated by adding the ending balance of the previous month ($7,560), adding deposits in transit ($6,000), subtracting outstanding checks ($7,125), and subtracting bank service charges ($830). This gives a balance of $6,435, which is the correct answer.

Jamison Company Developed the Following Reconciling Information in Preparing Its