The bank statement for mat co. revealed a balance of $900 while the checkbook balance showed $1,420. checks outstanding totaled $35. a check printing charge for $5 was on the bank statement. there was a $50 nsf shown on the bank statement. there was a $500 deposit in transit. what is the reconciled balance?

$1,365

Step-by-step explanation:

Entries for the bank statement balance:

Initial balance = $900

Checks outstanding = -$35

Deposit in transit = $500

Final balance = $900 + $500 -$35 = $1,365

Entries for the checkbook balance:

Initial balance = $1,420

Check printing charge = -$5

NSF = -$50

Final balance = $1,420 - $50 -$5 = $1,365

The reconciled balance is $1,365

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