Q40. The checkbook balance of Sunfresh, Inc. is $6,917.63. The bank statement sh

Question

Q40. The checkbook balance of Sunfresh, Inc. is $6,917.63. The bank statement shows a balance of $8,737.35. The bank statement showed interest earned in the amount of $59.60, a service charge of $37.25, and an outstanding deposit of $2,848.89. Outstanding checks totaled $837.38. The bookkeeper noticed the collection of a note by the bank for $4,270.40. Sunfresh, Inc. forgot to deduct a check for $461.52. Their reconciled balance is:

a. $10,784.86

b. $6,478.46

c. $10,748.68

d. $10,748.86

e. none of the above

Explanation / Answer

Calculation of reconciled balance of Sunfresh, Inc. Checkbook balance $6,917.63 ADD: Interest Earned $59.60 Collection of note $4,270.40 $4,330.00 DEDUCT: Service Charge $37.25 check issued but not deducted $461.52 $498.77 Reconciled balance = $10,748.86 The answer is Option d.

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