On October 1, Jessica Clay received her bank statement showing a balance of $374.52. Her checkbook records indicate a balance of $338.97. There was a service charge for the month of $4.40 on the statement. The outstanding checks were for $47.10, $110.15, $19.80, and $64.10. The deposits in transit totaled $125.50. There was a $75.70 debit for automatic payment of her telephone bill. Use the following form to reconcile Jessica's checking account. Debits Checks Outstanding Amount Amount Svc. Chg. Total Total CHECKBOOK BALANCE STATEMENT BALANCE Add: Interest & Other Credits Add: Deposits in Transit SUB TOTAL SUB TOTAL Deduct: Service Charges & Other Debits Deduct: Outstanding Checks ADJUSTED CHECK BOOK BALANCE ADJUSTED STATEMENT BALANCE
On October 1, Jessica Clay received her bank statement showing a balance of $374.52. Her checkbook records indicate a balance of $338.97. There was a service charge for the month of $4.40 on the statement. The outstanding checks were for $47.10, $110.15, $19.80, and $64.10. The deposits in transit totaled $125.50. There was a $75.70 debit for automatic payment of her telephone bill. Use the following form to reconcile Jessica's checking account. Debits Checks Outstanding Amount Amount Svc. Chg. Total Total CHECKBOOK BALANCE STATEMENT BALANCE Add: Interest & Other Credits Add: Deposits in Transit SUB TOTAL SUB TOTAL Deduct: Service Charges & Other Debits Deduct: Outstanding Checks ADJUSTED CHECK BOOK BALANCE ADJUSTED STATEMENT BALANCE
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On October 1, Jessica Clay received her bank statement showing a balance of $374.52.
Her checkbook records indicate a balance of $338.97. There was a service charge for the
month of $4.40 on the statement. The outstanding checks were for $47.10, $110.15, $19.80,
and $64.10. The deposits in transit totaled $125.50. There was a $75.70 debit for automatic
payment of her telephone bill. Use the following form to reconcile Jessica's checking account.
Debits Checks Outstanding
Amount Amount
Svc. Chg.
Total Total
CHECKBOOK BALANCE STATEMENT BALANCE
Add: Interest & Other Credits Add: Deposits in Transit
SUB TOTAL SUB TOTAL
Deduct: Service Charges & Other Debits Deduct: Outstanding Checks
ADJUSTED CHECK BOOK BALANCE ADJUSTED STATEMENT BALANCE
Her checkbook records indicate a balance of $338.97. There was a service charge for the
month of $4.40 on the statement. The outstanding checks were for $47.10, $110.15, $19.80,
and $64.10. The deposits in transit totaled $125.50. There was a $75.70 debit for automatic
payment of her telephone bill. Use the following form to reconcile Jessica's checking account.
Debits Checks Outstanding
Amount Amount
Svc. Chg.
Total Total
CHECKBOOK BALANCE STATEMENT BALANCE
Add: Interest & Other Credits Add: Deposits in Transit
SUB TOTAL SUB TOTAL
Deduct: Service Charges & Other Debits Deduct: Outstanding Checks
ADJUSTED CHECK BOOK BALANCE ADJUSTED STATEMENT BALANCE
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