A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 of interest on the bank statement which has not been posted to his/her checkbook, deposits in transit of $100, and outstanding checks of $195. What is the reconciled bank balance?

a. $1,400

b. $1,520

c. $1,510

d. $1,505

Question

Chris Nielsen

Business

21 July, 07:13

A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 of interest on the bank statement which has not been posted to his/her checkbook, deposits in transit of $100, and outstanding checks of $195. What is the reconciled bank balance?

a. $1,400

b. $1,520

c. $1,510

d. $1,505

+4

Answers (1)

Know the Answer?

Todd Harvey · Answer 1

1600

Explanation:

Balance As per Checkbook = 1500

Add: checks issued but not presented in bank = 195

Add: Interest Income not recorded in books = 5

Less: Depsits recorded in books but not presented in books = (100)

Balance As per bank statement = 1600