Question

If the month-end bank statement shows a balance of $54,000, outstanding checks are $15,000, a deposit of $6,000 was in transit at month end, and a check for $900 for non-sufficient funds charged by the bank against the account, the correct balance in the adjusted balance per bank at month end is Group of answer choices $45,000. $44,100. $62,100. $75,000.

Answer 1

Answer:

A. $45,000

Explanation:

We have to use bank reconciliation statement to find the adjusted balance per bank at the end of month. Although we do not have cash balance, we will use the bank part to adjust the bank balance.

Bank balance as per month end     $54,000

Add: Deposit in transit                      $6,000

                                                          $60,000

Less: Outstanding check                $(15,000)

Adjusted bank balance                  $45,000

Note: Non-sufficient funds will be deducted from cash book.

Therefore, option A is the answer.