Answered

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The checkbook balance of Hercher Company is $1,955.81. The bank statement shows a balance of $3,142.11. The statement shows interest earned of $31.55 and a service charge of $22.80. There is a deposit in transit of $3,991.88. In further analyzing the statement it was discovered that the bank collected a note for $3,100.000. Hercher Co. forgot to deduct a check for $850 during the month. There is a check outstanding for $2,919.43. What is the reconciled balance?

Sagot :

Answer:

Reconciled balance $3,142.11

Step-by-step explanation:

The computation of the reconciled balance is shown below:

Debit balance as per check book $1,955.81

Add: interest earned $31.55

Collection of note $3,100

Outstanding checks $2,919.43

Less: service charges -$22.80

Less: deposit in transit -$3,991.88

Less: forgot a check -$850

Reconciled balance $3,142.11

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