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Valentin [98]
3 years ago
9

Tony received his bank statement on March 7, showing a balance of $1,669.93. The balance shown in his checkbook was $1,451.06. D

eposits in transit amounted to $514.37 and there was a service charge of $10.00. Outstanding checks were $249.10, $78.13, and $352.63, and the interest earned was $63.38. Find the reconciled balance.

Business
1 answer:
levacccp [35]3 years ago
6 0

Bank balance and check book balance should always be the same but in case if there is some differences, it might be possible that certain amount is not recorded or missed either by bank or check book balance, hence the books should be reconciled.

The reconcile statement above should be:

Balance as per bank statement:

Add: Deposits in transit:

Less: Outstanding checks recorded in check book and not recorded in bank book.

Reconcile balance in the books of bank.

The image attached shows the reconciliation .

Balance as per cash book:

Less: Service charge deducted by bank but not recorded in check book

Add: Interest earned not recorded in check book

Reconcile Balance as per cash book.

The image is attached.



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In the given case, Integrated Devices Inc., a private, for profit company is wholly owned by members of the same family. Thus, it represents a close corporation.

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Which of the following savings options pays an interest rate that changes with the market rate of interest?
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<h3>Free trade</h3>

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<u>Complete Question:</u>

When is it permissible to access non-VA websites for personal use using VA computers?

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