The bank statement of July 31 for Savon Co. showed a balance of $6,008.10, and the checkbook showed a balance of $1,900.40. The
bookkeeper of Savon Co. noticed from the bank statement that the bank had collected a note for $666.66. There was a deposit in transit made on July 1 for $1,100.10 along with the outstanding checks of $4,580.54. Check charges were $39.40. What is the reconciled balance?
The correct answer is $10,982.68, because you have to subrtract $666.66 from $6,008.10 and you would get $5,341.44. The next step is that you have to add because the problem states that they're depositing, (which means putting money into the bank account), so you add the $1,100.10 and the $4,580.54 to $5,341.44 and you would get $11,022.08. Lastly the last step is to subtract the cost of the checks from your total and you would get $10,982.68.
First find out how many more inches it needs to grow, 54-37.5; It needs to grow 16.5 more inches. If it grows 3 inches a year then you have to do 16.5/3; 5.5. It will take 5.5 or 5 1/2 more years to grow to 54 inches.
