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

Question

The following information is available for Jade Company for the month ending June 30, 2014. Balance as per the bank statement is $11,240. Balance as per books is $10,200. Check #506 for $1,200 and check #510 for $900 were not shown on the June 30, bank statement. A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated. A bank debit memo indicated an NSF check for $85 written by Jane Smith to Jade Company on June 13. A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20. The bank statement indicated service charges of $20.

Explanation / Answer

Particulars Amount Amount Balance as per books 10200 Add: Check # 506 1200 Check # 510 900 Credit Memo 2100 Interest Revenue 55 4255 Less: Deposit in transit 3110 Debit Memo 85 Service charges 20 3215 Balance as per bank statement 11240

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