Question

the month-end bank stataement of der torossian incorporated shows a balance of 36,500, deposits in transit are 6500 outstanding checks are 12000. there also shows a credit memo of 1,000 for the interest income collected on a note recievable. the adjusted balance per bank at month end is

Answer 1

Answer:

$31,000

Explanation:

Calculating the adjusted balance per bank at month end.

Details                                         Amount

Unadjusted Balance                   $36,500

Add: Deposits in Transit             $6,500

Less: Outstanding Checks         $12,000

Adjusted Balance                       $31,000