Question

Mary's last bank statement showed an ending balance of $226.31. This month, she deposited $872.85 in...

Mary's last bank statement showed an ending balance of $226.31. This month, she deposited $872.85 in her account ans withdrew a total of $309.09. Futhermore, Mary wrote a total of five checks, two of which have cleared. The two checks rhat have cleared total $184.26. The three remaining checks total 131.81. Mary pays no fees at her bank. What is the balance shown this month on Mary's bank statement? What is the adjusted bank balance?
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Answer

Beginning balance

 $226.31
Add:Deposit $872.85
less:Withdrawl -$309.09
check drawn -$184.26
Bank balance at end $605.81
Adjusted balance = Bank Balance -Outstanding checks
                        = 605.81 - 131.81
                       = $ 474
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1)to determine the best bank for​ Julie.)Selecting a Bank.  Julie wants to open a bank account...
1)to determine the best bank for​ Julie.)Selecting a Bank.  Julie wants to open a bank account with ​$94 Julie estimates that she will write 19 checks per month and use her ATM card at the home bank. She will maintain a monthly balance of​ $600. Which bank should Julie​ choose? ​(Hint​: Use the​ table, to determine the best bank for​ Julie.) Hillsboro Bank First National South Trust Bank Sun Coast Bank ATM​ charges: Home bank Free Free Free Free Other...
a) You have an account at Bank A. Your last balance statement shows an ending balance...
a) You have an account at Bank A. Your last balance statement shows an ending balance of $100. This month you deposit $750 in your account and withdrew $350. The you wrote 9 checks, four of which clears. The checks that have cleared totals $400. The last remaining check total $370. You will pay a $25 fee to the bank that month. What is the adjusted bank balance (accounting for the unclear checks as well)?   Show work. b) What is...
Item #1. The bank statement for August 2019 shows an ending balance of $3,490. Item #2....
Item #1. The bank statement for August 2019 shows an ending balance of $3,490. Item #2. On August 31 the bank statement shows charges of $35 for the service charge for maintaining the checking account. Item #3. On August 28 the bank statement shows a return item of $100 plus a related bank fee of $10. The return item is a customer's check that was returned because of insufficient funds. Item #4. The bank statement shows a charge of $80...
Baker Corp.'s cash ledger reports a balance of $45,260 for the month ending September 30, 2019...
Baker Corp.'s cash ledger reports a balance of $45,260 for the month ending September 30, 2019            However, the bank statement shows that Baker's balance is $36,440.  Additional information            from September’s bank statement and company records reveals the following: Item Amount a. A deposit made by Baker is not reflected on the bank statement. $ 5,520 b. The bank deducted service fees from Baker's account.        330 c. A customer's check that Baker deposited did not clear the bank (NSF check)     1,200 d....
Linetech Company's bank statement showed an ending balance of $8,900. Items appearing in the bank reconciliation...
Linetech Company's bank statement showed an ending balance of $8,900. Items appearing in the bank reconciliation included: outstanding checks, $950; deposits in transit, $1,900; bank service charges, $59; and Driver Company's $295 check erroneously deducted from Linetech's bank account by the bank. What is the correct cash balance at the end of the month? $9,850. $9,555. $10,145. $13,408.
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,476. The company's...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,476. The company's Cash account in its general ledger showed a $1,130 debit balance. The following information was also available as of September 30. The bank deducted $170 for an NSF check from a customer deposited on September 15. The September 30 cash receipts, $1,340, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,462. The company's...
McDermott Company's bank statement for September 30 showed an ending cash balance of $1,462. The company's Cash account in its general ledger showed a $1,115 debit balance. The following information was also available as of September 30. • The bank deducted $165 for an NSF check from a customer deposited on September 15. • The September 30 cash receipts, $1,330, were placed in the bank's night depository after banking hours on that date and this amount did not appear on...
Brown, Inc. received its bank statement for the month ended 12/31/23. The bank statement showed a...
Brown, Inc. received its bank statement for the month ended 12/31/23. The bank statement showed a balance of $8,810.11. The company's general ledger showed a balance of $8,204 .32. Required: (a) Prepare a bank reconciliation in good form (start in column D) & (b) Make all journal entries required by the reconciliation (start in column N) The following ten (10) items were discovered when comparing the bank statement to the books of the company: 1.     The bank charged check processing...
Items Included on the GL/Books of the T-Corp for the Month were as follows; 1. Ending...
Items Included on the GL/Books of the T-Corp for the Month were as follows; 1. Ending GL Balance at January 31 was $200,000 2.Checks written from our GL account were #124=$42,000, #125=$55,000, #126=$26,000, #127=$22,000 3. Deposits made during the month were Jan 15th for $51,000, Jan 28th for $18,000, and on Jan 31st for $12,000. Items Included on the Bank statement for the Month were as follows; 1.Ending Bank balance at January 31 was $207,000. 2.Interest Earned during the month...
Carol Stokke receives her April 6 bank statement showing a balance of $1,089.25 her checkbook balance...
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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT