A company received a bank statement with a balance of $6,350. Reconciling items included a bookkeeper error of $300-a $300 check recorded as $600-two outstanding checks totaling $820, a service charge of $25, a deposit in transit of $280, and interest revenue of $21. What is the adjusted bank balance?
A)$5,636
B)$5,610
C)$5,016
D)$5,810

Question

Quizplus · Accepted Answer

Starting with the bank balance of $6,350:

- Subtract the bookkeeper error of $300: $6,350 - $300 = $6,050
- Subtract the two outstanding checks totaling $820: $6,050 - $820 = $5,230
- Subtract the service charge of $25: $5,230 - $25 = $5,205
- Add the deposit in transit of $280: $5,205 + $280 = $5,485
- Add the interest revenue of $21: $5,485 + $21 = $5,506

Therefore, the adjusted bank balance is $5,506. The answer is D.

A Company Received a Bank Statement with a Balance of $6,350