Question

136. Jeter Company developed the following reconciling information in preparing its September bank reconciliation: Cash balance per bank, 9/30 $15,400 Note receivable collected by bank 8,400 Outstanding checks I 12,600 Deposits in transit 6,300 Bank service charge 105 NSF check 1,680 Using the above information, determine the cash balance per books (before adjustments) for the Jeter Company. a. $13.685 b. $21,700 c. $2,485 d. $21,000 AICPA FN Reporting, AICPA PC

Answer 1

Answer:
Bank reconcilation
Cash Balance as per bank		$15,400
Add: Deposits in transit	$6,300
Add: NSF Checks	$1,680
Add: Bank service charge	$ 105	$ 8,085
		$23,485
Less: Notes receivable collected by bank	($8,400)
Less: Outstanding checks	($12,600)	($21,000)
Cash Balance per books (Before adjustments)		$ 2,485
Option ( c ) is Correct   - $ 2,485