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? a. $15,720 b. $10,705 c. $14,470 d. $15,095

correct option is d. $15,095

Explanation:

given data

Balance bank = $16,750

Balance company record = 16,125

Bank service charge = 80  

Deposit in transit = 2,195

NSF check = 950

Outstanding checks = 3,850

solution

we get here Adjusted Balance as per bank statement is

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

put here value and we get

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  is

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

put here value and we get

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

Adjusted Balance as per book = $15,095

so correct option is d. $15,095

answer; capital structure decision;