Ask Question
12 February, 03:27

The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank $16,750 Balance per company records 16,125 Bank service charges 80 Deposit in transit 2,195 NSF check 950 Outstanding checks 3,850 What is the adjusted balance on the bank reconciliation?

+5
Answers (1)
  1. 12 February, 07:12
    0
    Adjusted Balance as per bank statement = $15,095

    Adjusted Balance as per book = $15,095

    Explanation:

    given data

    Balance per bank = $16,750

    Balance per company records = 16,125

    Bank service charges = 80

    Deposit in transit = 2,195

    NSF check = 950

    Outstanding checks = 3,850

    to find out

    What is the adjusted balance on the bank reconciliation

    solution

    first we get here Adjusted Balance as per bank statement that is express as

    Adjusted Balance as per bank statement = Balance per bank + Deposit in transit Outstanding checks ... 1

    put here value

    Adjusted Balance as per bank statement = $16,750 + $2,195 - $3,850

    Adjusted Balance as per bank statement = $15,095

    and

    Adjusted Balance as per book will be here as

    Adjusted Balance as per book = Balance per company record - Bank Service charges - NSF checks ... 2

    put here value

    Adjusted Balance as per book = $16,125 - $80 - $950

    so

    Adjusted Balance as per book = $15,095
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank $16,750 Balance per company ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers