#10. The following is needed to reconcile the crash for Woods Paper Products. A

Question

#10. The following is needed to reconcile the crash for Woods Paper Products.

A deposit of $5,794.62 is transit.
Outstanding checks total $1,533.25
The book balance is $5,695.62
The bookeeper recorded a $1,524.00 check as $15,240 in payment of the current months rent.
The bank balance at February 28,2008 was $16,500.25
A deposit of $300 was credited by the bank for $3,000
A customers check for $1,280 was returned for nonsufficient funds
The bank service charge is $70.

What was the adjusted book balance?

A. $18,061.62
B. 10,140.24
C. 6,670.38
D. 20,761.62

Explanation / Answer

C. 6,670.38

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