Mia Wong's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $60.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What is the reconciled checkbook balance?
A) $3,527
B) $5,327.50
C) $3,627.50
D) $3,267.50
E) None of these

Question

Quizplus · Accepted Answer

Starting balance: $3,100.55

Add deposit in transit: $400

Adjusted balance: $3,500.55

Subtract NSF: $60.50

Adjusted balance: $3,440.05

Subtract service charge: $12.55

Adjusted balance: $3,427.50

Add note collected: $600

Reconciled balance: $3,627.50

Therefore, the reconciled checkbook balance is $3,627.50 (option C).

Mia Wong's Checking Account Had a Balance of $3,100