The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank $16,750 Balance per company records 16,125 Bank service charges 80 Deposits-in-transit 2,195 NSF check 950 Outstanding checks 3,850 What is the adjusted balance on the bank reconciliation?

The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank $16,750 Balance per company records 16,125 Bank service charges 80 Deposits-in-transit 2,195 NSF check 950 Outstanding checks 3,850 What is the adjusted balance on the bank reconciliation?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

The following data were gathered to use in reconciling the bank account of Savannah Company:

Balance per bank	$16,750
Balance per company records	16,125
Bank service charges	80
Deposits-in-transit	2,195
NSF check	950
Outstanding checks	3,850

What is the adjusted balance on the bank reconciliation?

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