Question

A company received a bank statement with a balance of $ 6 comma 400. Reconciling items included a bookkeeper error of $ 300long dasha $ 300 check recorded as $ 500long dashtwo outstanding checks totaling $ 820​, a service charge of $ 22​, a deposit in transit of $ 280​, and interest revenue of $ 21. What is the adjusted bank​ balance?

Answer 1

$5,860

Step-by-step explanation:

The computation of the adjusted bank balance is shown below;

= Opening bank balance + deposit in transit - outstanding checks

= $6,400 + $280 - $820

= $5,860

We simply added the deposit in transit and deduct the outstanding checks from the opening bank balance so that the adjusted bank balance could come