On October 31,2015,your company's records say that the company has $16,451.03 in its checking account.A review of the bank statement shows you have three outstanding checks totaling $5,643.01,and the bank has paid you interest of $12.19 and charged you $9.00 in service charges.The bank statement dated October 31,2015 would report a balance of:
A) $22,090.85.
B) $16,454.22.
C) $22,097.23.
D) $10,804.83.

Question

Quizplus · Accepted Answer

The bank statement balance is calculated by adding the outstanding checks to the company's record balance and then adjusting for interest and service charges: $16,451.03 + $5,643.01 + $12.19 - $9.00 = $22,097.23.

On October 31,2015,your Company's Records Say That the Company Has