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The ending bank statement balance at November 30 is . The bank statement shows a service charge of ​, electronic funds receipts of​ $500, and a NSF check for​ $350. Deposits in transit total and outstanding
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The ending bank statement balance at November 30 is . The bank statement shows a service charge of ​, electronic funds receipts of​ $500, and a NSF check for​ $350. Deposits in transit total and outstanding checks are . The balance per books at November 30 is . What is the adjusted bank balance at November​ 30?

User Ranksrejoined
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5 votes

Answer: $8,365‬

Step-by-step explanation:

The Adjusted Bank balance will be = Ending bank balance + deposits in transit (these have not yet cleared and will be reflected in the account when they do) - Outstanding checks ( these have cleared the bank either but have been recorded in the companies books as payments outwards)

= 7,550 + 2,550 - 1,735

= $8,365‬

User Clhereistian
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