A company received a bank statement with a balance of $6,350. Reconciling items included a bookkeeper error of $300 (a $300 check recorded as $600) two outstanding checks totaling $820, a service charge of $25, a deposit in transit of $280, and interest revenue of $21. What is the adjusted bank balance?

The adjusted bank balance is $ 5,810

Explanation:

Balance per bank statement                                              $ 6,350

Less: Outstanding checks                                                  $ (   820)

Add: Deposits on transit                                                     $    280

Adjusted balance per bank statement                              $ 5,810

The other data items impact the cash book and not the bank statement.

Service charges would already have been recorded in the bank statement, similarly the interest revenue would also have been recorded in the bank statement.

The error correction being a book keeping error also impacts the cash book balance.

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