Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7 . The California Bank of America will charge you $ 5 . 5 0 in monthly checking fees unless you have your paycheck deposited

7. The California Bank of America will charge you $5.50 in monthly checking fees unless you have your paycheck deposited directly and and do not use a teller for routine transactions. Kim Lake, who lives in California, received her bank statement with this $5.50 charge. She also had a $20 overdraft fee, a $5 check redeposit fee, and interest of $1.15. Her bank statement's balance was $206.65, but it did not show the $1,502.80 deposit she had made. Kim's checkbook balance shows $749.90. The following checks have not cleared: No.480, $630.20; No.483, $228.10; and No.485, $130.60. Prepare Kim Lake's bank reconciliation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing The Procurement Function The Iia Research Foundation Handbook Series

Authors: David O Regan, CIA, FCA

1st Edition

0894136224, 978-0894136221

More Books

Students also viewed these Accounting questions