Question

A company received a bank statement showing a balance of $76,000. Reconciling items included outstanding checks of $2,400 and a deposit in transit of

$9,100. What is the​ company's adjusted bank​ balance?

Answer 1

The company's adjusted bank balance after accounting for outstanding checks of $2,400 and a deposit in transit of $9,100, is $82,700.

Step-by-step explanation:

The question asks about adjusting a company's bank balance based on a bank statement and accounting for outstanding checks and deposits in transit. To calculate the company's adjusted bank balance, you subtract the amount of outstanding checks from the bank's balance and add the deposit in transit to it:

Adjusted Bank Balance = Bank Statement Balance - Outstanding Checks + Deposit in Transit

Plugging in the amounts:

Adjusted Bank Balance = $76,000 - $2,400 + $9,100

Adjusted Bank Balance = $73,600 + $9,100

Adjusted Bank Balance = $82,700