Question

Carlos Martin received a statement from his bank showing a balance of $56.75 as of March 15. His checkbook shows a balance of $87.37 as of March 20. The bank returned all the cancelled checks but two. One check was for $5.00 and the other was for $13.25. How much did Carlos deposit in his account between March 15 and March 20? A. $125.87 B. $162.37 C. $11.22 D. $48.87

Answer 1

March 15 balance:                  56.75
Add: Deposit                          x
Less: Outstanding check          18.25   ⇒ 5 + 13.25
March 20 balance:                  87.37

56.75 + x - 18.25 = 87.37
x = 87.37 - 56.75 + 18.25
x = 48.87   CHOICE D.

Outstanding checks are issued checks that are not yet deducted from the account.

Answer 2

Choice D is your answer.

Hope this helps :)