On December 15, you received your bank statement showing a balance of $2,275.34. Your checkbook shows a balance of $2,437.40. Outstanding checks are $225.50 and $356.10. The account earned $77.55. Deposits in transit amount to $805.21, and there is a service charge of $16.00. Calculate the reconciled balance. O $162.06 $2,051.73 O $2,375.85 O $2,498.95
On December 15, you received your bank statement showing a balance of $2,275.34. Your checkbook shows a balance of $2,437.40. Outstanding checks are $225.50 and $356.10. The account earned $77.55. Deposits in transit amount to $805.21, and there is a service charge of $16.00. Calculate the reconciled balance. O $162.06 $2,051.73 O $2,375.85 O $2,498.95
Chapter8: Budgets And Bank Reconciliations
Section: Chapter Questions
Problem 4.5C
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Question
![On December 15, you received your bank statement showing a balance of $2,275.34. Your checkbook shows a balance of $2,437.40. Outstanding checks are $225.50 and
$356.10. The account earned $77.55. Deposits in transit amount to $805.21, and there is a service charge of $16.00. Calculate the reconciled balance.
O $162.06
O $2,051.73
O $2,375.85
O $2,498.95](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd1c8773d-3f1d-494c-b776-10604035d8d4%2F09b4e3ea-e965-420d-a7e6-3f61aeba270d%2Fli217sf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On December 15, you received your bank statement showing a balance of $2,275.34. Your checkbook shows a balance of $2,437.40. Outstanding checks are $225.50 and
$356.10. The account earned $77.55. Deposits in transit amount to $805.21, and there is a service charge of $16.00. Calculate the reconciled balance.
O $162.06
O $2,051.73
O $2,375.85
O $2,498.95
Expert Solution
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Step 1 Introduction
The bank reconciliation statement is prepared to equate the balances of cash book and passbook with various adjustments. The adjustments for bank reconciliation statement include outstanding checks, book errors, bank errors, deposits in transit, NSF check, bank charges, etc.
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