Concord Pizza's checkbook balance is $1,799.59. The bank statement has a balance of $2,314.22. Interest earned on the statement was $35.50. With checks outstanding of $504.13 and a monthly service charge of $25.00, the reconciled balance is:
A)$793
B)$1,027.59
C)$2,046.35
D)$2,071.35
E)None of these

Question

Quizplus · Accepted Answer

To reconcile Concord Pizza's checkbook balance with the bank statement, start with the bank statement balance of $2,314.22. Add interest earned ($35.50) and subtract the monthly service charge ($25.00). Then, subtract the checks outstanding ($504.13). This calculation gives you the reconciled balance: $2,314.22 + $35.50 - $25.00 - $504.13 = $1,820.59, which is not listed among the options provided.

Concord Pizza's Checkbook Balance Is $1,799