The following information is available for Jade Company for the month ending June 30,2014. What is the adjusted book balance?
A)$12,740
B)$12,250
C)$8,150
D)$8,200

Question

The following information is available for Jade Company for the month ending June 30,2014.  What is the adjusted book balance?
A)$12,740 
B)$12,250 
C)$8,150 
D)$8,200

Quizplus · Accepted Answer

To calculate the adjusted book balance, we need to start with the book balance and adjust for outstanding checks and deposits in transit. 
Book balance: $10,120 
Outstanding checks: $1,350 
Deposits in transit: $780 
Thus, the adjusted book balance is: 
$10,120 - $1,350 + $780 = $12,250 
Therefore, the best choice is B.

The Following Information Is Available for Jade Company for the Month