Financial Planning Exercise 6 Checking account reconciliation Use Worksheet 4.1 Nicolas Cruz has a NOW account at the Second State Bank. His checkbook ledger lists the following checks: Check Numbers 654 658 Amount $206.05 55.15 662 668 670 671 103.00 98.97 6.19 50.40 672 24.90 673 32.41 674 44.50 675 30.00 676 30.00 677 111.23 678 679 680 681 682 683 38.04 97.99 486.30 43.50 75.08 98.73 Nicolas also made the following withdrawals and deposits at an ATM near his home: 683 98.73 Nicolas also made the following withdrawals and deposits at an ATM near his home: Date Amount 11/1 $50.00 Transaction Withdrawal 11/2 $525.60 Deposit 11/6 $100.00 Deposit 11/14 $75.00 Withdrawal 11/21 $525.88 Deposit 11/24 $150.00 Withdrawal 11/27 $225.00 11/30 $400.04 Withdrawal Deposit Nicolas' checkbook ledger shows an ending balance of $286.54. He has just received his bank statement for the month of November. It shows an ending balance of $622.44; it also shows that he earned interest for November of $3.59, had a check service charge of $8 for the month, and had another $12 charge for a returned check. His bank statement indicates the following checks have cleared: 654, 662, 672, 674, 675, 676, 677, 678, 679, and 681. ATM withdrawals on 11/1 and 11/14 and deposits on 11/2 and 11/6 have cleared; no other checks or ATM activities are listed on his statement, so anything remaining should be treated as outstanding. Use a checking account reconciliation form like the one in Worksheet 4.1 to reconcile Nicolas checking account. Round your answers to the nearest cent. Enter all answers as positive values. Enter your answers in the given order of Check numbers. CHECKING ACCOUNT RECONCILIATION For the Month of November, 2020 Accountholder Name(s): Nicolas Cruz Type of Account: Individual checking account. Round your answers to the nearest cent. Enter all answers as positive values. Enter your answers in the given order of Check numbers. CHECKING ACCOUNT RECONCILIATION For the Month of November, 2020 Accountholder Name(s): Nicolas Cruz Type of Account: Individual 1.Ending balance shown on bank statement Add up checks and withdrawals still outstanding: Check Number or Date Amount ATM 11-24 ATM 11-27 TOTAL $ $ $ $ $ $ $ $ $ $ $ 2. Deduct total checks/withdrawals still outstanding from bank balance Practice: Chapter 04 Managing Your Cash Savings ATM 11-24 ATM 11-27 TOTAL $ $ $ $ 2. Deduct total checks/withdrawals still outstanding from bank balance Add up deposits not shown on bank statement: Date 11/21/15 11/30/15 TOTAL 19 Amount $ $ 3. Add total deposits still outstanding to bank balance A. Adjusted Bank Balance 4. Ending balance shown in checkbook 5. Deduct any bank service charges for the period 6. Add interest earned for the period B.New Checkbook Balance Note: Your account is reconciled when line A equals line B. $ +$ A $ +A $ +$ $