A company received a bank statement showing a balance of $77,000.Reconciling items included outstanding cheques of $2300 and a deposit in transit of $9000.What is the company's adjusted bank balance?
A)$68,000
B)$70,300
C)$65,700
D)$83,700

Question

Quizplus · Accepted Answer

The adjusted bank balance is calculated by adding the deposit in transit and subtracting the outstanding cheques from the bank statement balance: $77,000 + $9,000 - $2,300 = $83,700.

A Company Received a Bank Statement Showing a Balance of $77,000.Reconciling