Derek Company gathered the following reconciling information in preparing its September bank reconciliation:

Question

Quizplus · Accepted Answer

The reconciling information provided indicates that there are two adjustments to be made to the company's bank balance: 
1) An outstanding check for $1,540 that has not yet cleared the bank. This amount should be subtracted from the bank balance. 
2) A deposit in transit of $4,600 that has not yet been recorded by the bank. This amount should be added to the bank balance. 
So, the total adjustment is the difference between the outstanding check and deposit in transit, which is $4,600 - $1,540 = $3,060. Therefore, the correct choice is option C.

Derek Company Gathered the Following Reconciling Information in Preparing Its