Question

On the back of Jack's monthly statement, he listed the following outstanding withdrawals # 123, $67.09 , #117, $300, #130, $280.25, debit card, $430.50,
and #138, $38.71. He also determined that a deposit for $400 and another for $238.90 are outstanding Using these outstanding transactions, what
adjustment will have to be made to his statement balance?

A. -$631.62
B. -$1116.55
C. $1955.45
D. -$277.90

Answer 1

The adjustment that will be made to Jack's statement balance is B. -$1116.55.

What is bank reconciliation?

Bank reconciliation is the process of making the records kept by an account holder agree with the records maintained by the bank.

Bank reconciliation is carried out by reviewing the differences between the two records and recording adjustments.

Data and Calculations:

Outstanding withdrawals:

#123,             $67.09

#117,            $300

#130,           $280.25

Debit card, $430.50,

#138,              $38.71.

Total outstanding withdrawals = $1,116.55

Outstanding deposits:

Deposit $400

Deposit $238.90

Total outstanding deposits = $638.90

Thus, the adjustment that will be made to Jack's statement balance is B. -$1116.55.

Learn more about bank reconciliations at brainly.com/question/15525383

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