Author Question: Loretta's bank statement shows a balance of 2,381.10. There are two outstanding deposits of 550 and ... (Read 72 times)

Diane · **on:** Jun 24, 2018

Loretta's bank statement shows a balance of 2,381.10. There are two outstanding deposits of 550 and 280. The statement showed a charge for 22 for new checks and an interest payment of 6.45. The outstanding checks were: Check 672 for 25.00, Check 675 for 45.76, Check 677 for 23.94, and Check 678 for 145.90. If Loretta's checkbook balance shows 2,929.95, what correction should she make?
A) Adjust down 15.55
B) Adjust down 40.55
C) Adjust up 15.55
D) Adjust up 40.55

Question 2

Kathy has a checkbook balance of 579.35. Her bank statement shows a balance of 597.50. Her outstanding checks total 115.65. There were 22.50 in fees and charges. The difference in the adjusted checkbook balance and adjusted bank statement balance is an unrecorded ATM withdrawal. What is that amount?
A) 18.15
B) 75.00
C) 97.50
D) 156.30