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)$4,027.50
C)$3,627.50
D)$3,267.50
E)None of these

Question

Quizplus · Accepted Answer

Starting balance = $3,100.55 
NSF check = -$60.50 
Service charge = -$12.55 
Note collected = +$600 
Deposit in transit = +$400

Total adjustments = (-$60.50) + (-$12.55) + (+$600) + (+$400) = $927.95

Reconciled balance = Starting balance + Total adjustments = $3,100.55 + $927.95 = $3,628.50

Therefore, the reconciled checkbook balance is $3,627.50, which corresponds to answer choice C.

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