The following information was used in reconciling the bank account for Minerva Company on October 31:

Calculate the Adjusted Book Balance on October 31.

Question

The following information was used in reconciling the bank account for Minerva Company on October 31:

Calculate the Adjusted Book Balance on October 31.

Quizplus · Accepted Answer

$40,000 balance per books - $1,240 utility bill paid by bank - $80 check printing charge - $1,400 NSF check = $37,280 Adjusted book balance.
$36,640 balance per bank statement + $2,440 deposits in transit - $1,800 outstanding checks = $37,280.

The Following Information Was Used in Reconciling the Bank Account