Homework Help is Here – Start Your Trial Now!
Business
Accounting
forgotten to record a deposit in his checkbook for $162.88. What is the adjusted checkbook balance? Does it balance with the bank statement?

forgotten to record a deposit in his checkbook for $162.88. What is the adjusted checkbook balance? Does it balance with the bank statement?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

33

44. State National Bank sent Jeff Satterwhite his bank statement showing a $1,018.34 balance. Jeff's checkbook showed a $651.09 balance. The following checks were outstanding: Check 867 for $23.98, Check 869 for $11.11, Check 870 for $122.98, and Check 871 for $58.80. The monthly service charge was $12.50. Jeff had forgotten to record a deposit in his checkbook for $162.88. What is the adjusted checkbook balance? Does it balance with the bank statement?
Transcribed Image Text:44. State National Bank sent Jeff Satterwhite his bank statement showing a $1,018.34 balance. Jeff's checkbook showed a $651.09 balance. The following checks were outstanding: Check 867 for $23.98, Check 869 for $11.11, Check 870 for $122.98, and Check 871 for $58.80. The monthly service charge was $12.50. Jeff had forgotten to record a deposit in his checkbook for $162.88. What is the adjusted checkbook balance? Does it balance with the bank statement?
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Changes and Error Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS