Find the current balance for the account.Balance from Bank Statement Outstanding Checks Deposits Not Yet Recorded$4895.48$94.87$528.01$347.89$801.45$475.69.....The current balance is $

Outstanding checks are the checks that has, been sent by the business but not yet cleared. Deposits…

Answered: Find the current balance for the…

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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Using the following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in transit: $1,932 Outstanding checks: $584 Interest income: $130 NSF check: $275
1) The bank statement balance in space (1) should be: a. $481.77 b. $558.27 c. $609.19 d. $685.77 2) The checkbook balance in space (2) should be: a. $6,857.89 b. $6,527.02 c. $6486.17 d. $6276.17 3) The checks outstanding in space (3) should be: a. $250.85 b. $256.72 c. $325.00 d. $581.72 4) The current month deposits in space (4) should be: a. $243.33 b. $272.23 c. $281.13 d. $300.03 5)The bank statement balance in space (5) should be: a. $107.90 b. $110.80 c. $113.70 d. $116.50 6) The total checks written in space (6) should be: a. $328.13 b. $343.64 c. $353.65 d.$4,363.00 7)The checkbook balance in space (7) should be: a. $280.50 b. $291.50 c. $298.10 d. $312.40 8)The current month deposits in space (8) should be: a. $313.50 b. $320.68 c. $327.84 d. $335.01 9) The checkbook balance in space (9) should be: a. $72.02 b. $83.24 c. $94.44 d. $105.64 10) The beginning balance in space (10) should be: a. $66.99 b. $67.72 c. $68.14 d. $68.25
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
The new balance from a bank statement is $16,835.55. The deposits not yet recorded by the bank are $2058.05, $92.91 and $1052.27. The checks outstanding are $352.85, $188.14, $144.73 and $81.20. Determine the adjusted bank balance.
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
Based on the he following information,preaper a blank reconciliation to determine the adjusted( corrected) balance; ( input each amount bas a positive value) Bank balance. $680 Checkbook balance. $642 Outstanding checks. $112 Direct deposit. $70 Account fees. $12 ATM withdrawal $80 Deposit in transit. $60 Interest earned. $8 Bank statement. Your checkbook
1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account c. Current account d. Past account 2. A deposit is shown on which part of a bank statement? a. Debit column b. Credit column c. Bottom part d. Everywhere 5 3. It is a written order directing a bank to pay money as instructed. a. Check b. Bank statement c. Deposit slip d. Bank instruction 4. You wrote a check and gave it to your friend as her birthday gift. Which of the following is correct? Drawer Drawee Payee a. You Bank Friend b. Bank You Friend c. You Friend Bank d. Bank You Friend 5. A time deposit is normally evidenced by a(an) a. passbook. b. bank statement. c. Certificate of Time Deposit. d. ATM card. 6. If you want to put money to your bank account, which of the following documents should you prepare? a. Deposit slip b. Bank statement c. Withdrawal slip d. Debit card 7. A check that is dated at a future date is called. a. ante-dated check. b. postdated check. c. stale check. d.…
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
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…
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6. After comparing your bank statement, canceled checks, and checkbook register, complete the reconciliation statement shown below. What are the new and adjusted balances? Reconciliation Statement Check Register Balance Service Charge NEW BALANCE> 285.14 -8.10 Reconciliation statement Provided for your convenience Statement Balance Outstanding Checks # 202 # 203 $35.92 $28.75 Total Checks > (-) Outstanding Deposits 4/8 4/16 $129.08 $30.00 Total Deposits> (+) ADJUSTED BALANCE 182.63
The accompanying table, Data table Date Deposit (Withdrawal) Date Deposit (Withdrawal) 1/1/20 $8,000 1/1/22 $3,272 1/1/21 $(6,540) 1/1/23 $5,255 (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) , shows a series of transactions in a savings account. The account pays 5% simple interest, and the account owner withdraws interest as soon as it is paid. Calculate the following: a. The account balance at the end of each year. (Assume that the account balance at December 31, 2019, is zero.) b. The interest earned each year. c. The true rate of interest that the investor earns in this account. Question content area bottom Part 1 a. The account balance at the end of 2020 is $8,0008,000. (Round to the nearest dollar.) Part 2 The account balance at the end of 2021 is $1,9531,953. (Round to the nearest dollar.)

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Find the current balance for the account. Balance from Bank Statement Outstanding Checks Deposits Not Yet Recorded $4895.48 $94.87 $528.01 $347.89 $801.45 $475.69 .... The current balance is $