mikaliagrant17
Answered

Mia Wong's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $60.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What is the reconciled checkbook balance?

Verified Answer :

taskmasters

Given:
Checking account balance:  3,100.55
Add: note collected                      600
deduct:
NSF                      60.50
service charge: 12.55               (73.05)
reconciled checkbook bal.    3,627.50

The deposit in transit for 400 was already included in the 3,100.55 balance. That is why it is not included in the reconciliation.

Related Questions