Question

Carol Stokke receives her April 6 bank statement showing a balance of $1,089.25 her checkbook balance is $1,013.25. The bank statement shows an ATM charge of $26.30, NSF fee of $27.50, earned interest of $2.85, and Carol’s $783.65 refund check, which was processed by the IRS and deposited to her account. Carol has two checks that have not cleared—No. 115 for $531.35 and No. 116 for $248.50. There is also a deposit in transit for $1,436.55.

Prepare Carol's bank reconciliation.(Input all amounts as positive values. Round your answers to 2 decimal places.)

Answer 1

Carol's Bank reconciliation
Carol's Checkbook balance		$1,013.25	Bank balance		$1,089.25
Add			Add
Check no.115	$531.35		ATM Charge	$26.30
Check no.116	$248.50		NSF Fees	$27.50
Interest	$2.85		Deposit in transit	$1,436.55
Refund check	$783.65	$1,566.35			$1,490.35
		$2,579.60			$2,579.60
Deduct			Deduct
ATM Charge	$26.30		Check no.115	$531.35
NSF Fees	$27.50		Check no.116	$248.50
Deposit in transit	$1,436.55		Interest	$2.85
		$1,490.35	Refund check	$783.65	$1,566.35
Reconciled balance		$1,089.25	Reconciled balance		$1,013.25