Question
Consumers, community activist, and politicians are decrying the new line of accounts because several include a $3 service charge for some customers who use bank
Consumers, community activist, and politicians are decrying the new line of accounts because several include a $3 service charge for some customers who use bank tellers for transactions that can be done through an automated teller machine. Bill Wade banks at a local bank that charges this fee. He was having difficulty balancing his checkbook because he did not notice this fee on his bank statement. His bank statement showed a balance of $822.18. Bill's checkbook had a balance of $206.48. Check No. 406 for $116.08 and Check No. 407 for $12.50 were outstanding. A $521 deposit was not on the statement. Bill has his payroll check electronically deposited to his checking account - the payroll check was for $1,015.12 (Bill's payroll checks vary each month). There are also a $1 service fee and a teller fee of $6. What is Bill's reconciled balance?
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