1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.



You might be interested in
Select a topic and develop a curriculum targeted to 6th-grade students.
BartSMP [9]

Explanation:

Provide an outline of the material and how it will be presented.

is the correct answer .

hope it is helpful to you☺️☺️☺️

6 0
3 years ago
I got a question for dudes
Nataly [62]

Answer:

what

Explanation:

7 0
3 years ago
Which of the following is true about duration and modified duration?
My name is Ann [436]

Answer:

The truth about Macaulay Duration and Modified Duration is:

d. All are true.

Explanation:

Principally, the Macaulay Duration, used mainly with immunization strategies, measures the weighted average time an investor holds a bond until the period when the present value of the bond’s cash flows equals to the initial bond amount.

On the other hand, the Modified Duration, providing a risk measure by being sensitive to interest rates, identifies the amount by which the duration changes for each percentage change in the yield and, at the same time, measures how the amount of a change in the interest rates impacts a bond's price.

4 0
3 years ago
13. Which of the following is NOT used to describe the state of an economy?
Anni [7]

Answer:C.TINSTAAFL Rating

Explanation:

7 0
3 years ago
Missy, age 30, has owned her principal residence (adjusted basis of $225,000) for five years. During the first three years of ow
vlada-n [284]

Answer:

The answer to the following question is attached within a word file.

Download docx
7 0
3 years ago
Other questions:
  • Common ways to be generative include caregiving, employment, and _____. goal-setting exercises parenthood travel financial secur
    8·1 answer
  • In the preparation of departmental income statements, the preparer completes the following steps in the following order: (1 poin
    8·1 answer
  • Direct selling is a retail channel where salespeople interact with customers face-to-face. Group of answer choices True False
    14·1 answer
  • _____ _____ is a way to see if your product is meeting the needs of your customers.
    12·1 answer
  • Taggart Inc. is considering a project that has the following cash flow data. What is the projects payback? Year 0 1 2 3 Cash flo
    9·1 answer
  • A company has two products: standard and deluxe. The company expects to produce 43,681 Standard units and 39,390 Deluxe units. I
    7·1 answer
  • Of customers who register a complaint, ________. all will do business with the company again because they are unwilling to dedic
    13·2 answers
  • Miguel Corporation, a foreign subsidiary of a U.S. parent company, has one asset (Land) and no liabilities. The functional curre
    10·1 answer
  • True or False Question
    13·2 answers
  • Q 10.1: Sukui Electronics decided to expand their product line to include GPS trackers. They estimate that over the next 3 years
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!