Banks are finding more ways to charge fees, such as a $25.40 overdraft fee. Sue McVickers has an account in Fayetteville; she has received her bank statement with this $25.40 charge. Also, she was charged a $9.90 service fee; however, the good news is she earned $14.95 interest. Her bank statement's balance was $647.45, but it did not show the $1,234.25 deposit she had made. Sue's checkbook balance shows $722.60. The following checks have not cleared: Number 250, $664.35; Number 253, $370.40; and Number 254, $144.70. Prepare Sue's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Sue's checkbook balance. Add: Deposit in transit Deposit in transit Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Deposit in transit Interest Subtotal Deduct: Maintenance fee Reconciled balance.

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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Banks are finding more ways to charge fees, such as a $25.40 overdraft fee. Sue McVickers has an account in Fayetteville; she has
received her bank statement with this $25.40 charge. Also, she was charged a $9.90 service fee; however, the good news is she
earned $14.95 interest. Her bank statement's balance was $647.45, but it did not show the $1,234.25 deposit she had made. Sue's
checkbook balance shows $722.60. The following checks have not cleared: Number 250, $664.35; Number 253, $370.40; and
Number 254, $144.70.
Prepare Sue's bank reconciliation.
Note: Input all amounts as positive values. Round your answers to 2 decimal places.
Sue's checkbook balance
Add:
Deposit in transit
Deposit in transit
Subtotal
Deduct:
Subtotal
Reconciled balance
BANK RECONCILIATION
Bank balance
Add:
Deposit in transit
Interest
Subtotal
Deduct:
Maintenance fee
Reconciled balance
Transcribed Image Text:Banks are finding more ways to charge fees, such as a $25.40 overdraft fee. Sue McVickers has an account in Fayetteville; she has received her bank statement with this $25.40 charge. Also, she was charged a $9.90 service fee; however, the good news is she earned $14.95 interest. Her bank statement's balance was $647.45, but it did not show the $1,234.25 deposit she had made. Sue's checkbook balance shows $722.60. The following checks have not cleared: Number 250, $664.35; Number 253, $370.40; and Number 254, $144.70. Prepare Sue's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places. Sue's checkbook balance Add: Deposit in transit Deposit in transit Subtotal Deduct: Subtotal Reconciled balance BANK RECONCILIATION Bank balance Add: Deposit in transit Interest Subtotal Deduct: Maintenance fee Reconciled balance
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