Question

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?

Answer 1

bank balance - outstanding checks + deposits in transit = reconciled balance
900 - 35 + 500 = 1365

Answer 2

from checkbook direction:

check book balance - any fees charged by bank (NSF and bank charges) = reconciled balance
1420 -5-50 = 1365

Answer 3

Let me know if you need more specifics...