If the month-end bank statement shows a balance of $58000 outstanding checks are $15000 a deposit of $7000 was in transit at month end and a check for $600 was erroneously charged by the bank against the account the correct balance in the bank account at month end is
A) $49400.
B) $50000.
C) $50600.
D) $65400.

Question

Quizplus · Accepted Answer

Starting balance: $58,000
Outstanding checks: -$15,000
In-transit deposit: +$7,000
Erroneous charge: +$600

$58,000 - $15,000 + $7,000 + $600 = $50,600

If the Month-End Bank Statement Shows a Balance of $58000