The following information is available for Andersen Company for the month ending 30 June 2014. • Balance per the bank statement is $10 241.43.
• Balance per books is $9 745.06.
• cheque #506 for $1 948.52 and cheque #510 for $1 800.25 were not shown on the 30 June bank statement.
• A deposit in transit of $5 113.40 had not been received by the bank when the bank statement was generated.
• A bank debit memo indicated a dishonoured cheque in the amount of $79 written by Bruce Garrett to Andersen Company on 13 June.
• A bank credit memo indicated a bill collected by the bank of $1 900 and interest revenue of $75 on 20 June.
• The bank statement indicated service charges of $35.
What is the adjusted bank balance?
A)$11 606.06
B)$8 152.43
C)$19 103.60
D)$8 876.80

Question

Quizplus · Accepted Answer

The adjusted bank balance is calculated as follows:  Balance per bank statement: $10,241.43  Add: Deposit in transit: $5,113.40  Less: Outstanding cheques ($1,948.52 + $1,800.25): $3,748.77  Adjusted bank balance: $11,606.06

The Following Information Is Available for Andersen Company for the Month