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11 December, 06:06

The bank statement for Lee Co. revealed a balance of $1,200 while the checkbook balance showed $1,600. Checks outstanding totaled $50. A check printing charge for $7.00 was on the bank statement. There was a $100 NSF shown on the bank statement. There was a $600 deposit in transit. What is the reconciled balance?

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  1. 11 December, 06:34
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    The Reconciled balance will be $1750

    Explanation:

    We have given bank balance = $1200

    Checks outstanding balance = $50

    Diposit in transit = $600

    We have to find the reconciled balance

    Reconciled balance is given by

    Reconciled balance = Bank balance + Deposits in transit - Outstanding checks

    = $1200 + $600-$50 = $1750

    So the Reconciled balance will be $1750
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Home » Business » The bank statement for Lee Co. revealed a balance of $1,200 while the checkbook balance showed $1,600. Checks outstanding totaled $50. A check printing charge for $7.00 was on the bank statement. There was a $100 NSF shown on the bank statement.
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