The following data were gathered to use in reconciling the bank account of Savannah Company: What is the adjusted balance on the bank reconcilition?
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:  What is the adjusted balance on the bank reconcilition?
A) $14,470 
B) $10,705 
C) $15,095 
D) $15,720

Quizplus · Accepted Answer

The adjusted balance on the bank reconciliation would be calculated as follows:

Beginning balance per bank statement: $12,400
Add: Deposits outstanding: $2,800
Less: Checks outstanding: $1,105
Add: Bank error correction: $100
Adjusted balance: $14,195

Therefore, the answer is C) $15,095, since this is the closest option to the adjusted balance of $14,195.

The Following Data Were Gathered to Use in Reconciling the Bank