The ending bank statement balance at November 30 is $7550. The bank statement shows a service charge of $75, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2550 and outstanding checks are $1735. The balance per books at November 30 is $8290. What is the adjusted bank balance at November 30?
A)$7550
B)$7625
C)$8365
D)$9105

Question

Quizplus · Accepted Answer

The adjusted bank balance is calculated as: Ending bank statement balance ($7550) + Deposits in transit ($2550) - Outstanding checks ($1735) = $8365.

The Ending Bank Statement Balance at November 30 Is $7550