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10. Use Allison Shannon's bank statement and check register to reconcile her account. CODE PLEASE BE SURE TO DEDUCT CHANGES THAT AFFECT YOUR ACCOUNT ITEM NO. FOR TRANSACTION 1500 1501 1502 1503 1504 Allison Shannon 3 Honey Drive Dallas, TX 75372 DATE 12/08 W/D 12/10 W/D 12/15 DEPOSIT 12/23 W/D 12/27 W/D 12/29 W/D 1505 1506 DATE 11/20 11/30 12/2 12/11 12/15 12/16 12/17 DESCRIPTION 12/18 1/5 DESCRIPTION OF TRANSACTION TO Girl Scouts FOR Cookies TO Bank of Seaford FOR Loan Payment TO Lacy's Department Store FOR Radio TO Charge Tix FOR Concert Tickets TO Deposit FOR CHECK NUMBER TO FLASHCARD FOR Monthly payment TO Red Cross FOR Donation TO Daily Newspaper FOR Subscription TO Deposit FOR 1502 1501 1504 1503 1506 SUBTRACTIONS AMOUNT OF PAYMENT OR WITHDRAWAL 32 00 130 00 V 147 28 72 00 250 00 100 00 26 00 ✓OTHER V STARTING BALANCE TRANSACTION AMOUNT ADDITIONS AMOUNT OF DEPOSIT OR INTEREST ACCOUNT NUMBER: 76574709A STATEMENT PERIOD: 12/01 - 12/31 147.28 130.00 749.00 250.00 72.00 26.00 ENDING BALANCE BALANCE FORWARD 749 00 150 00 1,685 91 -32 00 1,653 91 -130 00 1,523 91 -147 28 1,376 63 - 72 00 1304 63 +749 00 2,053 63 - 250 00 1,803 63 -100 00 1,703 63 -26 00 1,677 63 +150 00 1,827 63 $1,685.91 BALANCE $1,538.63 $1,408.63 $2,157.63 $1,907.63 $1,835.63 $1,809.63 $1,809.63

10. Use Allison Shannon's bank statement and check register to reconcile her account. CODE PLEASE BE SURE TO DEDUCT CHANGES THAT AFFECT YOUR ACCOUNT ITEM NO. FOR TRANSACTION 1500 1501 1502 1503 1504 Allison Shannon 3 Honey Drive Dallas, TX 75372 DATE 12/08 W/D 12/10 W/D 12/15 DEPOSIT 12/23 W/D 12/27 W/D 12/29 W/D 1505 1506 DATE 11/20 11/30 12/2 12/11 12/15 12/16 12/17 DESCRIPTION 12/18 1/5 DESCRIPTION OF TRANSACTION TO Girl Scouts FOR Cookies TO Bank of Seaford FOR Loan Payment TO Lacy's Department Store FOR Radio TO Charge Tix FOR Concert Tickets TO Deposit FOR CHECK NUMBER TO FLASHCARD FOR Monthly payment TO Red Cross FOR Donation TO Daily Newspaper FOR Subscription TO Deposit FOR 1502 1501 1504 1503 1506 SUBTRACTIONS AMOUNT OF PAYMENT OR WITHDRAWAL 32 00 130 00 V 147 28 72 00 250 00 100 00 26 00 ✓OTHER V STARTING BALANCE TRANSACTION AMOUNT ADDITIONS AMOUNT OF DEPOSIT OR INTEREST ACCOUNT NUMBER: 76574709A STATEMENT PERIOD: 12/01 - 12/31 147.28 130.00 749.00 250.00 72.00 26.00 ENDING BALANCE BALANCE FORWARD 749 00 150 00 1,685 91 -32 00 1,653 91 -130 00 1,523 91 -147 28 1,376 63 - 72 00 1304 63 +749 00 2,053 63 - 250 00 1,803 63 -100 00 1,703 63 -26 00 1,677 63 +150 00 1,827 63 $1,685.91 BALANCE $1,538.63 $1,408.63 $2,157.63 $1,907.63 $1,835.63 $1,809.63 $1,809.63

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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9. When Payne removed his bank statement from the envelope, it got caught on a staple and a corner was ripped from the page. Now he cannot read his ending balance. Explain the computations he can do to find his ending balance. CODE ITEM NO. FOR TRANSACTION 1500 1501 1502 PLEASE BE SURE TO DEDUCT CHANGES THAT AFFECT YOUR ACCOUNT 1503 1504 Payne Johnston 1234 Main Street Miami, FL 33299 1505 DATE 1/08 1/11 1/15 1/24 1/27 1/30 1506 10. Use Allison Shannon's bank statement and check register to reconcile her account. Allison Shannon 3 Honey Drive Dallas, TX 75372 DATE DESCRIPTION 12/08 W/D 12/10 W/D 12/15 DEPOSIT 12/23 W/D 12/27 W/D 12/29 W/D DATE 11/20 11/30 12/2 12/11 12/15 DESCRIPTION 12/16 W/D W/D DEPOSIT W/D W/D W/D 12/17 12/18 1/5 DESCRIPTION OF TRANSACTION CHECK NUMBER TO Charge Tix FOR Concert Tickets TO Deposit FOR TO Girl Scouts FOR Cookies TO Bank of Seaford FOR Loan Payment TO Lacy's Department Store FOR Radio TO FLASHCARD FOR Monthly payment TO Red Cross FOR Donation TO Daily Newspaper FOR Subscription TO Deposit FOR 5502 5501 5504 5503 5506 CHECK NUMBER 1502 1501 1504 1503 1506 SUBTRACTIONS AMOUNT OF PAYMENT OR WITHDRAWAL 32 00 130 00 147 28 72 00 250 00 100 00 26 00 S ✓OTHER > STARTING BALANCE TRANSACTION AMOUNT S ACCOUNT NUMBER: 99887766D STATEMENT PERIOD: 1/1-1/31 121.28 140.00 998.15 107.78 12.00 58.70 ENDING BALAN STARTING BALANCE TRANSACTION AMOUNT ADDITIONS AMOUNT OF DEPOSIT OR INTEREST 147.28 130.00 749.00 250.00 72.00 26.00 ENDING BALANCE 749 00 ACCOUNT NUMBER: 76574709A STATEMENT PERIOD: 12/01 - 12/31 BALANCE FORWARD 150 00 -$754.33 1,685 91 - 32 00 1,653 91 - 130 00 1,523 91 - 147 28 1,376 63 - 72 00 1304 63 +749 00 2,053 63 -250 00 1,803 63 - 100 00 1,703 63 -26 00 1,677 63 +150 00 1,827 63 BALANCE $633.05 $493.05 $1,491.20 $ 1,383.42 $1,371.42 $12 other - $1,685.91 BALANCE $1,538.63 $1,408.63 $2,157.63 $1,907.63 $1,835.63 $1,809.63 $1,809.63 2-2 Reconcile
Transcribed Image Text:9. When Payne removed his bank statement from the envelope, it got caught on a staple and a corner was ripped from the page. Now he cannot read his ending balance. Explain the computations he can do to find his ending balance. CODE ITEM NO. FOR TRANSACTION 1500 1501 1502 PLEASE BE SURE TO DEDUCT CHANGES THAT AFFECT YOUR ACCOUNT 1503 1504 Payne Johnston 1234 Main Street Miami, FL 33299 1505 DATE 1/08 1/11 1/15 1/24 1/27 1/30 1506 10. Use Allison Shannon's bank statement and check register to reconcile her account. Allison Shannon 3 Honey Drive Dallas, TX 75372 DATE DESCRIPTION 12/08 W/D 12/10 W/D 12/15 DEPOSIT 12/23 W/D 12/27 W/D 12/29 W/D DATE 11/20 11/30 12/2 12/11 12/15 DESCRIPTION 12/16 W/D W/D DEPOSIT W/D W/D W/D 12/17 12/18 1/5 DESCRIPTION OF TRANSACTION CHECK NUMBER TO Charge Tix FOR Concert Tickets TO Deposit FOR TO Girl Scouts FOR Cookies TO Bank of Seaford FOR Loan Payment TO Lacy's Department Store FOR Radio TO FLASHCARD FOR Monthly payment TO Red Cross FOR Donation TO Daily Newspaper FOR Subscription TO Deposit FOR 5502 5501 5504 5503 5506 CHECK NUMBER 1502 1501 1504 1503 1506 SUBTRACTIONS AMOUNT OF PAYMENT OR WITHDRAWAL 32 00 130 00 147 28 72 00 250 00 100 00 26 00 S ✓OTHER > STARTING BALANCE TRANSACTION AMOUNT S ACCOUNT NUMBER: 99887766D STATEMENT PERIOD: 1/1-1/31 121.28 140.00 998.15 107.78 12.00 58.70 ENDING BALAN STARTING BALANCE TRANSACTION AMOUNT ADDITIONS AMOUNT OF DEPOSIT OR INTEREST 147.28 130.00 749.00 250.00 72.00 26.00 ENDING BALANCE 749 00 ACCOUNT NUMBER: 76574709A STATEMENT PERIOD: 12/01 - 12/31 BALANCE FORWARD 150 00 -$754.33 1,685 91 - 32 00 1,653 91 - 130 00 1,523 91 - 147 28 1,376 63 - 72 00 1304 63 +749 00 2,053 63 -250 00 1,803 63 - 100 00 1,703 63 -26 00 1,677 63 +150 00 1,827 63 BALANCE $633.05 $493.05 $1,491.20 $ 1,383.42 $1,371.42 $12 other - $1,685.91 BALANCE $1,538.63 $1,408.63 $2,157.63 $1,907.63 $1,835.63 $1,809.63 $1,809.63 2-2 Reconcile
Services DATE 3/3 3/4 3/10 3/14 3/19 3/24 3/30 395 Tina Weaver 41 Slider Lane Greenwich, CT 06830 396 397 ( 398 6. Use Tina Weaver's monthly statement and check register to reconcile her account. a. What is the ending balance on the statement? b. What is the total of the outstanding deposits? 399 c. What is the total of the outstanding withdrawals? d. What is the revised statement balance? e. What is the balance of the check register? f. Does the account reconcile? DESCRIPTION NUMBER OR CODE 392 2/20 Conn Telephone Co. 393 2/21 Rod's Bike Shop 394 3/1 Window's Restaurant 3/2 Centsible Bank 3/4 Deposit 3/4 Spear's Department Store 3/15 Mary Lewis 3/21 Sea Cliff Records 3/23 Deposit W/D DEPOSIT W/D W/D W/D DEPOSIT W/D CHECK NUMBER DATE 395 396 393 394 398 TRANSACTION DESCRIPTION 4/2 Ciangiola Motors 4/2 Deposit STARTING BALANCE TRANSACTION AMOUNT $79.00 $ 600.00 $51.10 $12.00 $ 133.81 $250.00 $11.40 deposition ENDING BALANCE ACCOUNT NUMBER: 766666600A STATEMENT PERIOD: 3/01-3/31 PAYMENT AMOUNT 76 80 ✓ 12 00 133 81 79 00 · 51 10 50 00 11 40 BOTE 2001 JUO 39 00 ✓ FEE - - DEPOSIT AMOUNT emotsie 600 00 $871.50 BALANCE $792.50 $1,392.50 $ 1,341.40 $ 1,329.40- $ 1,195.59 $1,445.59 $ 1,434.19 $1,434.19 250 00 $ BALANCE 700 00 10 beaives 8. Mason discovered that when he recorded a deposit of $75 two weeks ago, he mistakenly subtracted it from the running total in his check register. He decided that he would write a new entry after his most recent entry and add $75. Will this correct his mistake? Explain. 871.50 859.50 725.69 646.69 1,246.69 1,195.59 im 1,145.59 1,134.19 1,384.19 1,345.19 som bili no 7. Donna has a checking account that charges $0.15 for each check written and a monthly service charge of $9.75. Write a formula that Donna can use each month to find the fees she will be charged. Identify any variable you use in the formula. 2,045.19
Transcribed Image Text:Services DATE 3/3 3/4 3/10 3/14 3/19 3/24 3/30 395 Tina Weaver 41 Slider Lane Greenwich, CT 06830 396 397 ( 398 6. Use Tina Weaver's monthly statement and check register to reconcile her account. a. What is the ending balance on the statement? b. What is the total of the outstanding deposits? 399 c. What is the total of the outstanding withdrawals? d. What is the revised statement balance? e. What is the balance of the check register? f. Does the account reconcile? DESCRIPTION NUMBER OR CODE 392 2/20 Conn Telephone Co. 393 2/21 Rod's Bike Shop 394 3/1 Window's Restaurant 3/2 Centsible Bank 3/4 Deposit 3/4 Spear's Department Store 3/15 Mary Lewis 3/21 Sea Cliff Records 3/23 Deposit W/D DEPOSIT W/D W/D W/D DEPOSIT W/D CHECK NUMBER DATE 395 396 393 394 398 TRANSACTION DESCRIPTION 4/2 Ciangiola Motors 4/2 Deposit STARTING BALANCE TRANSACTION AMOUNT $79.00 $ 600.00 $51.10 $12.00 $ 133.81 $250.00 $11.40 deposition ENDING BALANCE ACCOUNT NUMBER: 766666600A STATEMENT PERIOD: 3/01-3/31 PAYMENT AMOUNT 76 80 ✓ 12 00 133 81 79 00 · 51 10 50 00 11 40 BOTE 2001 JUO 39 00 ✓ FEE - - DEPOSIT AMOUNT emotsie 600 00 $871.50 BALANCE $792.50 $1,392.50 $ 1,341.40 $ 1,329.40- $ 1,195.59 $1,445.59 $ 1,434.19 $1,434.19 250 00 $ BALANCE 700 00 10 beaives 8. Mason discovered that when he recorded a deposit of $75 two weeks ago, he mistakenly subtracted it from the running total in his check register. He decided that he would write a new entry after his most recent entry and add $75. Will this correct his mistake? Explain. 871.50 859.50 725.69 646.69 1,246.69 1,195.59 im 1,145.59 1,134.19 1,384.19 1,345.19 som bili no 7. Donna has a checking account that charges $0.15 for each check written and a monthly service charge of $9.75. Write a formula that Donna can use each month to find the fees she will be charged. Identify any variable you use in the formula. 2,045.19
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