2.DETAILSriseBRECMBC9 4.11.TB.011.On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24,and there is a service charge of $10.00. Calculate the reconciled balance.O $29.95O $943.80O $1,003.70$1,108.88

The objective of the question is to calculate the reconciled balance of the bank account. This…

Answered: 2. DETAILS rise BRECMBC9 4.11.TB.011.…

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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On May 27, you received your bank statement showing a balance of $1,026.34. Your checkbook shows a balance of $1,056.29. Outstanding checks are $245.50 and $377.20. The account earned $62.59. Deposits in transit amount to $705.24, and there is a service charge of $10.00. Calculate the reconciled balance. $29.95 $943.80 O $1,003.70 O $1,108.88
Based on the following information, determine the true balance in your checking account. Balance in your checkbook Balance on bank statement $ 453 597 23 Interest earned on the account Total of outstanding checks Deposits in transit Service charge and other fees True balance $6 223 62
Given the information here, what should Jason's adjusted checkbook balance be? Bank balance: $ 600 $ 260 $ Outstanding checks: Deposit in transit: ATM fees: Interest earned: Checkbook balance: Select one: a. $300 X b. $171 c. $113 d. $242 e. $440 100 $50 $ 10 $ 480
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Q. 15.. The check register for Promotions, Inc. showed a balance of $5,684.37. The bookkeeper then made a deposit of $6,753.91. The bookkeeper then wrote checks for $1,704. 12, $1,600.32, and $2,110.14. Compute the new cash balance shown in the check register.
Now, with Jacques’s latest bank statement and his check register or ledger in hand, you can examine the documents. Fourth State Bank of San Francisco, CA Statement of Account Jacques Smythe June 20XX 550 Angel Street San Francisco, CA Account 348596 Date Description Subtractions Additions Balance 6-01 Previous balance 1,446.50 6-01 Deposit 300.00 1,746.50 6-03 Check 300 700.00 1,046.50 6-04 Check 301 350.00 696.50 6-05 ATM withdrawal 25.00 671.50 6-05 Deposit 75.00 746.50 6-11 ATM withdrawal 35.15 711.35 6-15 Deposit 300.00 1,011.35 6-18 Check 302 210.00 801.35 6-21 ATM withdrawal 47.65 753.70 6-22 Deposit 105.00 858.70 6-24 Check 303 70.00 788.70 6-26 ATM withdrawal 50.00 738.70 Jacques’s Account Ledger Date Transaction Description Deposit Withdrawals Balance Jun-01 Deposit - Payroll $300.00 $1,746.50 Jun-03 Check 300 - Rent $700.00 1,046.50 Jun-04 Check 301 - Car payment…
Q.17. The check register for Bellam Furniture showed a balance of $3,511.91. Checks were written for $2,593.02 and $72.80. A deposit was made for $6,982.22. Compute the new balance shown in the check register.
On June 30, 2019, Wally Company's bank statement showed a $7,500.10 bank balance. Wally has a beginning checkbook balance of $9,800.00. The bank statement also showed that it collected a $1,200.50 note for the company. A $4,500.10 June 30 deposit was in transit. Check No. 119 for $650.20 and check No. 130 for $381.50 are outstanding. Wally's bank charges $.40 cents per check. This month, 80 checks were processed. Prepare a reconciled statement. (Round your answers to the nearest cent.) Checkbook balance Wally's checkbook balance Add: Deduct: Reconciled balance WALLY COMPANY Bank Reconciliation as of June 30, 2019 Bank balance Add: Deduct: Reconciled balance Bank balance
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Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO

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