On December 10, you receive your bank statement showing a balance of $2,984.04. Your checkbook shows a balance of $2,775.93. Outstanding checks are $384.81 and $179.56. The account earned $127.88. Deposits in transit amount to $478.14, and there is a service charge of $6.00. Calculate the reconciled balance. a) $208.11 b) $2,654.05 c) $2,897.81 d) $4,026.55
On December 10, you receive your bank statement showing a balance of $2,984.04. Your checkbook shows a balance of $2,775.93. Outstanding checks are $384.81 and $179.56. The account earned $127.88. Deposits in transit amount to $478.14, and there is a service charge of $6.00. Calculate the reconciled balance. a) $208.11 b) $2,654.05 c) $2,897.81 d) $4,026.55
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On December 10, you receive your bank statement showing a balance of $2,984.04. Your checkbook shows a balance of $2,775.93. Outstanding checks are $384.81 and $179.56. The account earned $127.88. Deposits in transit amount to $478.14, and there is a service charge of $6.00. Calculate the reconciled balance.
a) $208.11
b) $2,654.05
c) $2,897.81
d) $4,026.55
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