Question

Katie's bank statement shows a closing balance of $178.11. There are no outstanding checks or deposits. Her checkbook shows a balance of $198.11. What might account for the different balances?

Answer 1

Answer:

The amount $20.00 is the overdraft fee.

Step-by-step explanation:

Given:

Katie's bank statement shows a closing balance = $178.11.

Her checkbook shows a balance = $198.11.

Now, to get what might account for the different balances?

Closing balance of Katie's bank statement = $178.11

Balance of her checkbook shows = $198.11.

As, there are no outstanding checks or deposits.

So, to get the difference of amount:

$\ 198.11-\ 178.11$

$=\ 20.00.$

Thus, $20.00 is the overdraft amount.

Therefore, the amount $20.00 is the overdraft fee.