The following data were gathered to use in reconciling the bank account of Savannah Company: $$\begin{array} { | l | r | }
\hline \text { Balance per bank } & \$ 16,750 \
\hline \text { Balance per company records } & 16,125 \
\hline \text { Bank service charges } & 80 \
\hline \text { Deposit in transit } & 2,195 \
\hline \text { NSF check } & 950 \
\hline \text { Outstanding checks } & 3,850 \
\hline
\end{array}$$
What is the adjusted balance on the bank reconciliation?
A) $14,470
B) $10,705
C) $15,095
D) $15,720

Question

The following data were gathered to use in reconciling the bank account of Savannah Company: $$\begin{array} { | l | r | } 
\hline \text { Balance per bank } & \$ 16,750 \
\hline \text { Balance per company records } & 16,125 \
\hline \text { Bank service charges } & 80 \
\hline \text { Deposit in transit } & 2,195 \
\hline \text { NSF check } & 950 \
\hline \text { Outstanding checks } & 3,850 \
\hline
\end{array}$$ 
 What is the adjusted balance on the bank reconciliation?
A) $14,470
B) $10,705
C) $15,095
D) $15,720

Quizplus · Accepted Answer

The adjusted balance on the bank reconciliation is $15,095. This is calculated by adding the deposit in transit ($2,195) to the balance per company records ($16,125) and subtracting the bank service charges ($80), the NSF check ($950), and the outstanding checks ($3,850).

The Following Data Were Gathered to Use in Reconciling the Bank