A firm's bank reconciliation statement shows a book balance of $16,640, a non-interest note collected by the bank of $3,400 an NSF check of $1,650, and a service charge of $60. Its adjusted book balance is:

Question

Quizplus · Accepted Answer

Starting with the book balance of $16,640, we add the non-interest note collected by the bank of $3,400, giving us a subtotal of $20,040. 
Next, we subtract the NSF check of $1,650 and the service charge of $60:

$20,040 - $1,650 - $60 = $18,330

Therefore, the adjusted book balance is $18,330. The correct answer is C.

A Firm's Bank Reconciliation Statement Shows a Book Balance of $16,640