To reconcile bank statements, what do you need?

When reconciling bank statements, it's essential to compare the bank's recorded balance with the organization's records to identify discrepancies. The correct choice includes calculating the true available balance in the bank account by adjusting the bank's statement balance.

This calculation involves taking the bank statement’s balance, subtracting any outstanding checks that have not yet cleared, and adding any deposits that have been recorded in the company's books but not yet reflected in the bank's records (deposits in transit). This method ensures that both records align accurately, providing a clear picture of the available funds.

The reconciled balance from the general ledger provides a starting point for checking against the bank records but is not sufficient alone. The bank statement's balance is crucial, but without considering the effects of outstanding checks and deposits in transit, it does not give the full picture. Thus, option C accurately encapsulates the necessary components to achieve a proper reconciliation, supporting a comprehensive analysis of the account balance.