Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume that the following information relates to your most recent bank statement dated September 30: $3,800 Balance per bank statement at September 30 Checks written
Assume that the following information relates to your most recent bank statement dated September 30: $3,800 Balance per bank statement at September 30 Checks written that had not cleared the bank as of September 30: #203 University tuition #205 University bookstore #208 Rocco's pizza #210 Stereo purchase #211 October apartment rent $ 1,800 400 30 500 600 Interest amounting to $4 was credited to your account by the bank in September. The bank's service charge for the month was $5. In addition to your bank statement, you received a letter from your parents informing you that they had made a $2,400 electronic funds transfer directly into your account on October 2. After reading your parents' letter, you looked in your checkbook and discovered its balance was $471. Adding your parents' deposit brought that total to $2,871. Prepare a bank reconciliation to determine your correct checking account balance. (Record the transactions in the given order. Input all amounts as positive values. Omit the "$" sign in your response.) 3,800 Balance per bank statement at September 30 Add: Bank's service charge $ Outstanding checks: #203 University tuition #205 University bookstore #208 Rocco's pizza #210 Stereo purchase #211 October apartment rent Adjusted cash balance $ $ Balance per your checkbook (including $2,400 deposit) (Click to select) $ Deduct: Interest earned in September Adjusted cash balance A
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started