Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help I really need this! I will leave a great review!! Thank you! 2. The following check register and the account statement will not
Please help I really need this! I will leave a great review!! Thank you!
2. The following check register and the account statement will not reconcile because of several errors. The bank has made no errors and there are no errors in the math calculations. Use the following information to answer the questions. CHECK REGISTER Date No. Description Payment T Deposit $747.61 3/2 2031 Second National Bank 208 50 + 539.11 3/2 2032 James Johnson 250 00 + 289.11 3/4 2033 Commonwealth Edison 45 78 + 243.33 3/4 2034 General Telephone 28 20 + 215.13 3/7 2035 Super Value Foods 37 38 177.75 + + 3/10 Deposit 605 00 782.75 3/13 2036 Master Card 235 45 547.30 3/15 2037 Ed's Garage 105 54 441.76 + + 3/16 2038 Second National Bank 50 00 391.76 3/20 2039 American Mutual Insurance 35 65 356.11 3/24 2040 All States Sports Center 250 75 + 105.36 3/24 2042 Chinese Fortune Food 22 46 + 82.90 3/24 Deposit + 640 00 687.90 3/26 2043 Municipal Water 23 45 664.45 3/31 Deposit 25 00 689.45 ACCOUNT STATEMENT DEPOSITS & CHECKS & DEBITS BALANCE LAST STATEMENT BALANCE THIS STATEMENT No Amount No Amount $747.61 2 $1,210.00 11 $1,040.03 $917.58 Checking Account Transactions Date Amount Description 3/10 $605.00 Deposit 3/24 $605.00 Deposit 3/31 $6.00 Service Charge Date Check No. Amount Date Check No. Amount 3/02 2031 $208.50 3/16 2037 $105.54 3/07 45.78 3/18 2034 28.2 3/07 2032 250.00 3/27 2042 22.46 3/10 2035 37.38 3/27 2041 35.42 3/16 2038 50.00 3/29 2040 250.75 Incorrect Reconciliation Your checkbook balance 689.45 Bank Balance 917.58 SUBTRACT Deposits not shown Service Charge Outstanding Checks Overdraft fees 2039 35.65 Check order 2043 23.45 TOTAL Adjusted Balance 689.45 Adjusted Balance 848.48 2a. Find the two errors in the checkbook register. 1. 2. 2b. Find the two errors in the bank reconciliation. 1. 2. 3. Find the simple interest on a $2,219 principal, deposited for six years at a rate of 5.11%
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