The Following Information Is Available for Jade Company for the Month

question 52

Multiple Choice

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.
What is the adjusted book balance?

• A)$12,740
• B)$12,250
• C)$8,150
• D)$8,200

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Definitions:

Status Quo

The existing state or condition of affairs at a particular time, often used in discussions about maintaining or changing current situations.

International Arbitration

A method of resolving disputes between parties from different countries outside the courts, typically by following specific rules in a neutral forum.

Treaty of Ghent

The peace treaty that ended the War of 1812 between the United States and the United Kingdom, signed on December 24, 1814.