The following information is available for Juno Company for the month ending Jun

ID: 2437134 • Letter: T

Question

The following information is available for Juno Company for the month ending June 30, 2019 Balance as per the bank statement is $11,500. Balance as per books is $10,100. * Check #506 for $1,200 and check #510 for $700 were not shown on the June 30, bank statement. A deposit in transit of $2,533 had not been received by the bank when the bank statement was generated. A bank debit memo indicated an NSF check for $100 written by Jane Smith to Juno Company on June 13. A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $53 on June 20. The bank statement indicated service charges of $20. What is the adjusted book balance? OA. $8,253 O B. $8,200 C. $12,153 O D. $12,133

Explanation / Answer

Solution : The correct option is “D’ i.e Adjusted Book Balance= $ 12,133

Unadjusted book balance

$10100

Add: Credit memo for collection

$ 2100

Add: Credit memo for interest revenue

$ 53

Less : Debit memo for NSF check

($ 100)

Less: Service Charges

( $ 20)

Adjusted Book Balance

$12133