The Following Information Is Available for Juno Company for the Month

question 192

Multiple Choice

The following information is available for Juno Company for the month ending June 30,2019. $* \quad$ Balance as per the bank statement is $\$ 11,500$ .
* Balance as per books is $\$ 10,300$ .
* Check \#506 for $\$ 1,400$ and check \#510 for $\$ 900$ were not shown on the June 30 , bank statement.
* A deposit in transit of $\$ 3,218$ 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 $\$ 2,200$ and interest revenue of $\$ 53$ on June 20.
* The bank statement indicated service charges of $\$ 35$ .
What is the adjusted book balance?

• A) $12,453
• B) $12,418
• C) $8,053
• D) $8,000

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Definitions:

Limited Partners

Investors in a partnership whose liability is limited to the amount of their investment, without direct management responsibilities.

Realized Capital Gain

The profit earned from the sale of an asset that has increased in value over the time it was held.

Market Value

The current price at which an asset or service can be bought or sold in an open market.

Depreciated Value

The reduced worth of an asset over time due to wear and tear, obsolescence, or market conditions.