If the bank statement at the end of the month shows a balance of IDR 360...

If the bank statement at the end of the month shows a balance of IDR 360 million, checks are still in circulation IDR 120 million, deposits in transit worth IDR 40 million and checks worth IDR 5 million are charged by the bank to the company account, what is the correct balance of the bank account at the end of the month?
A. IDR 275.000.000
B. IDR 285.000.000
C IDR 205.000.000
D. IDR 435.000.000

Solutions

Expert Solution

The correct option is (D.), i.e., IDR 435.000.000

According to the question,

Monthly end balance in the bank=IDR 360 million

Add: Cheque in circulation = IDR 120 million

Less: Deposit in transit = IDR 40 million

Less: charges charged by the bank= IDR 5 million

Bank balance at the end of the month = IDR 435 million

Therefore, the correct option is option D.

ekkarill92 answered 2 years ago

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