The following data were gathered to use in reconciling the bank account of Savannah Company: What is the adjusted balance on the bank reconcilition?

Question

Quizplus · Accepted Answer

Starting Bank Balance: $11,800
Add deposits in transit: $4,500
Subtract outstanding checks: $2,000
Adjusted Bank Balance: $14,300

Starting Book Balance: $13,500
Subtract service charge: $100
Subtract NSF check: $300
Add interest: $100
Adjusted Book Balance: $13,200

Adjusted Bank Balance: $14,300
Adjusted Book Balance: $13,200

Adjusted balance on the bank reconciliation: $15,095 (Adjusted Bank Balance + Add Interest - Subtract NSF check)

The Following Data Were Gathered to Use in Reconciling the Bank