The beginning checkbook balance of Shelley Co. was $5,559.10. The bank statement showed a bank balance...

The beginning checkbook balance of Shelley Co. was $5,559.10. The bank statement showed a bank balance of $7,888.44. The bookkeeper of Shelley Co. noticed a $111.10 deposit in transit along with check numbers 90 and 97 for $499.88 and $1,256.45, respectively, as outstanding. The bank statement credited Shelley's account for $750.99 for a note collected. The bank statement revealed a check printing charge of $66.88. The reconciled balance is:

Expert Solution

Balnace as per Shelley Co.	5,559.10
Add: Notes collected credited by Bank	750.99
Add: Cheque in transist (499.88+1256.45)	1,756.33
Less : Cash in transist	111.10
Less: Check printing charge	66.88
Balnace as per Bank Statement	7,888.44

jeff jeffy answered 1 year ago

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