The bank statement of Ali Co. indicated a current balance of $32,900.10. The current checkbook balance indicated a balance of $34,509.11. In the reconciliation process a deposit in transit for $6,821.11 was discovered. Check number 600 for $3,988.33 was outstanding. The statement also revealed an NSF of $110.11 along with interest earned by Ali of $1,333.88. The reconciled balance is:
A)$35,237.88
B)$34,237.88
C)$35,723.88
D)$35,732.88
E)None of these

Question

Quizplus · Accepted Answer

Starting with the current checkbook balance of $34,509.11, we add the deposit in transit of $6,821.11 to get a subtotal of $41,330.22. Next, we subtract the outstanding check of $3,988.33 to get a new subtotal of $37,341.89. Then, we subtract the NSF of $110.11 and add the interest earned of $1,333.88 to get a final reconciled balance of $35,732.88. Therefore, the correct answer is D.

The Bank Statement of Ali Co