A company received a bank statement with a balance of $6300.Reconciling items included a bookkeeper error of $300-a $300 cheque recorded as $500-two outstanding cheques totalling $800,a service charge of $22,a deposit in transit of $250 and interest revenue of $19.What is the adjusted bank balance?

Question

Quizplus · Accepted Answer

Starting bank balance = $6,300
Bookkeeper error (-$300) = $6,000
Recorded cheque error (+$200) = $6,200
Outstanding cheques (-$800) = $5,400
Service charge (-$22) = $5,378
Deposit in transit (+$250) = $5,628
Interest revenue (+$19) = $5,647

Therefore, the adjusted bank balance is $5,650. The answer is choice letter C.

A Company Received a Bank Statement with a Balance of $6300.Reconciling