Park Place received a bank statement showing a balance of $1,400. What is the adjusted balance if there was a bookkeeper error of $100 in the depositor's favour, two outstanding cheques totalling $40, a service charge of $10, a deposit in transit of $150, and interest revenue of $26 earned by the depositor?
A)$1,110
B)$1,510
C)$1,636
D)$1,610

Question

Quizplus · Accepted Answer

Adjusted balance = Bank statement balance + Outstanding cheques + Deposit in transit + Interest revenue - Service charge - Bookkeeper error= $1,400 + $40 + $150 + $26 - $10 - $100= $1,510

Park Place Received a Bank Statement Showing a Balance of $1,400