MATHEMATICS HIGH SCHOOL

On Novenber 4, your bank statement shows a balance of $2,253.18. Your checkbook shows a balance of $2,324.34. If there are outstanding checks in the amounts of $105.50 and $158.10, deposits in transit amount to $605.27, account earnings of $68.51 and there is a service charge of $5.00. Determine the Adjusted Checkbook Balance and the Adjusted Statement Balance.

Answers

Answer 1
Answer:

Answer:

The final answer is "$2387.85 and $2594.85".

Step-by-step explanation:

Given values:

The bank statement balance= $2,253.18

The checkbook balance = $2,324.34

outstanding check amounts= $105.50 and $158.10

transit amount= $605.27

account earnin(credits)= $68.51

service charge= $5.00

Adjusted Checkbook Balance =?

Adjusted  Statement Balance=?

Adjusted the Checkbook Balance:

checkbook balance = $2,324.34

\text{total checkbook balance = checkbook balance+ credits}\n

                                      = \$ 2,324.34+ \$ 68.51\n\n= \$ 2392.85

\text{ Adjust check book balance= total checkbook balance - servicec charge}

                                         = \$2392.85 - \$5.00\n\n= \$ 2387.85

Adjusted the Statement Balance:

bank statement balance= $2,253.18

\text{total Statement balance = bank Statement balance+ transit amount}\n

                                      = \$ 2,253.18+ \$ 605.27\n\n= $ 2,858.45

\text{outstanding check amounts = $105.50+ $158.10}

                                           = \$263.60

\text{ Adjust statement balance= total statement balance - outstanding check amount }                                        = \$ 2,858.45 - \$263.60\n\n= $ 2,594.85

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Answers

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Answers

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Step-by-step explanation:

Answer:

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Answers

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Answers

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Answers

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