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

Question

3 years ago

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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?

Mathematics

2 answers:

mylen [45] · Answer 1 · 2021-12-29T15:24:32+03:00

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.

Hope that helps.