Question

HELP PLEASE!!
The beginning checkbook balance of Gregory Co. was $3,045.58. Their bank statement indicated a balance of $4,262.92. The bookkeeper of Gregory Co. discovered a $220.05 deposit not reflected on the statement and checks numbered 478 and 492 in the amounts of $325.50 and $497.65 still outstanding. The bank credited Gregory’s account for $651.84 for a note that they had collected. The bank charged their account $37.60 for printed checks. Their reconciled balance was

A.) $6,359.82.

B.) $3,659.28.

C.) $3,659.82.

D.) $3,569.82.

Answer 1

Bank statement and Cash balance needs to be reconciled:

Bank Statement:

Opening Balance: $4,262.92

Add: Amount deposited: $ 220.05

Less: Cheque not yet clear: -$ 325.50

Less: Cheque not yet clear: -$ 497.65

________

Bank Balance $3,659.82

Balance as per Cash Book:

Opening Balance : $3,045.58

Add: Bank Credit: $ 651.84

Less: Bank Charges: -$ 37.6

______

Balance (Cash Book) $3,659.82

Hence the answer is C $3,659.82