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The bank statement for Mat Co. revealed a balance of $900, and the checkbook balance showed $1,420. Checks outstanding totaled $35. A check printing charge for $5 was on the bank statement. There was a $50 NSF shown on the bank statement. There was a $500 deposit in transit. What is the reconciled balance?

Respuesta :

Answer:

The reconciled balance is $1,365

Explanation:

The computation of the reconciled balance is shown below:

= Bank balance - outstanding checks + deposit in transit

= $900 - $35 + $500

= $1,365

All other items which are mentioned in the question are related to the cash balance. These items would be adjusted either positive or negative in the checkbook balance. After reconciliation, both the cash balance and the bank balance would be equal and balanced

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