Manuel has a 717.89 checkbook balance. His bank statement shows a ...

[jCorn1234]

Manuel has a 717.89 checkbook balance. His bank statement shows a 509.56 balance and an 8 service charge. His outstanding checks total 112.23. The deposit from his paycheck for 345 is also outstanding. What is his adjusted checkbook balance? Does it reconcile with the adjusted bank statement balance?

Question 2

Franklin's bank statement showed a balance of 2,592.58. There were 2 ATM fees of 3.00 and 2.50. He had made three outstanding deposits not recorded by the bank for 115, 619.78, and 45.90. The outstanding checks were in the amounts of 23.89, 515.78, and 19. What is the adjusted bank balance?

[samiel-sayed]

Answer to Question 1

709.89; no;
His adjusted checkbook balance should be 717.89 - 8 = 709.89. His adjusted bank statement balance is 509.56 - 122.23 + 345 = 732.33. The balances do not reconcile; there is a difference of 22.44.

Answer to Question 2

2,814.59; The ATM fees are already recorded in the statement, so add the outstanding balances and deduct the outstanding checks;
2,592.58 + (115 + 619.78 + 45.90 ) - (23.89 + 515.78 + 19 ) = 2,814.59

[jCorn1234]

Excellent

[matt95]

TYSM