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suter [353]
3 years ago
12

The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 14,400 Balance

per company records 12,005 Bank service charges 65 Deposit in transit 2,120 NSF check 780 Outstanding checks 5,360
What is the adjusted balance on the bank reconciliation?
Business
1 answer:
givi [52]3 years ago
8 0

Answer:

$11,160

Explanation:

The computation of the adjusted balance on the bank reconciliation is shown below:

For Bank balance

= Balance per bank + Deposit in transit - Outstanding checks

= $14,400 +$2,120 - $5,360

= $11,160

For book balance:

= Balance per company records - NSF checks - Bank service charges

= $12,005 - $780 - $65

= $11,160

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