Question

If the month-end bank statement shows a balance of $72,000, outstanding checks are $54,000, a deposit of $15,000 was in transit at month end, and a check for $3,000 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is a) $29,400

b) $30,000
c) $30,600
d) $41,400

Answer 1

The correct answer was supposed to be $36,000 which is not in the given choices.

Step-by-step explanation:

correct balance in the bank account

= As per bank statement balance - outstanding checks + deposit in transit + check erroneously charged

= $72,000 - $54,000 + $15,000 + $3,000

= $36,000