Question

Required Information The following information applies to the questions displayed below] The bank statement for Tetra Company contained the following items a bank service charge of $10: a credit memo for interest eamed, $15, and a $50 NSF check from a customer. The company had outstanding checks of $100 and a deposit in transit of $300 Assuming that the unadjusted bank balance was $500, what is the unadjusted book balance? Multiple Choice 5745 < Prev 17 of 21 Next > pe here to search

Answer 1

Correct option is: $745
Tetra Company
Bank Reconciliation
Balance as per bank		$       500	Balance as per books (bal. fig.)		$       745
Add:			Add:
Deposit in transit	$     300		Credit memo	$     15
		$       300			$         15
Deduct:			Deduct:
Outstanding checks	$     100		Bank service charges	$     10
			NSF checks	$     50
		$       100			$         60
Reconciled balance		$       700	Reconciled balance		$       700