Damon Company receives its monthly bank statement, which reports a balance of $1,725. After comparing this to the company’s cash records, Damon’s accountants determine that deposits outstanding total $3,100 and checks outstanding total $3,350. Required:

Reconciled bank balance  =  $1475

Explanation:

given data

Bank balance = $1,725

deposits outstanding total = $3,100

checks outstanding total = $3,350

solution

we get here Reconciled bank balance  that is express as

Reconciled bank balance  = Bank balance + total deposits outstanding - total checks outstanding 1

put here value and we get

Reconciled bank balance  = $1,725 + $3,100 - $3,350

Reconciled bank balance  =  $1475

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