Mia received her bank statement on March 6, showing a balance of $1,729.73. The balance shown in her checkbook was $1,427.58. Deposits in transit amounted to $538.52 and there was a service charge of $6.00. Outstanding checks were $155.44, $291.26, and $342.03, and the interest earned was $57.94. Find the reconciled balance.
A) $1,421.58
B) $1,941.00
C) $1,479.52
D) $1,729.73

Question

Quizplus · Accepted Answer

The reconciled balance is $1,479.52. This is calculated by adding the deposits in transit ($538.52) to the checkbook balance ($1,427.58), subtracting the outstanding checks ($155.44 + $291.26 + $342.03), and adding the interest earned ($57.94).

Mia Received Her Bank Statement on March 6, Showing a Balance