Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Under the Add and Deduct, there are few blue blank, you could add Canceled check, Deposit in transit, Interest, Maintenance fee, Notes collected, Outstanding checks

image text in transcribed

Under the Add and Deduct, there are few blue blank, you could add Canceled check, Deposit in transit, Interest, Maintenance fee, Notes collected, Outstanding checks (total) and Service charge in to those blank

A local bank began charging $4.40 each month for returning canceled checks. The bank also has an $16.60 "maintenance" fee if a checking account slips below $750.00. Donna Sands likes to have copies of her canceled checks for preparing her income tax returns. She has received her bank statement with a balance of $633.51. Donna received $5.88 in interest and has been charged for the canceled checks and the maintenance fee. The following checks were outstanding: Number 94, \$132.84; Number 96, \$127.90; Number 98,$257.74; and Number 99,$79.96. A deposit of $788.04 was not recorded on Donna's bank statement. Her checkbook shows a balance of $838.23. Prepare Donna's bank reconciliation. Note: Input all amounts as positive values. Round your answers to 2 decimal places

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

Step: 3

blur-text-image

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

Financial Accounting Concepts And Applications

Authors: K. Fred Skousen, James D. Stice, Earl Kay. Stice, W. Steve Albrecht

7th Edition

0538876255, 978-0538876254

More Books

Students also viewed these Accounting questions

Question

Sell the quality of your brand or products.

Answered: 1 week ago