George tallies up the transactions in his check register and comes up with a total balance of $221.57, but his bank statement sa

Question

4 years ago

7

George tallies up the transactions in his check register and comes up with a total balance of $221.57, but his bank statement sa

ys that his balance is $203.73. Which of the following are still outstanding? I. A $20.25 check to the florist II. A $14.29 check to the dry cleaners III. A $38.09 check deposit IV. A $19.05 money order deposit a. I and III b. I and IV c. II and III d. II and IV Please select the best answer from the choices provided A B C D

Business

1 answer:

Vesna [10] · Answer 1 · 2021-12-18T05:05:16+03:00

Answer:

The answer is: A) I and III

Explanation:

George's bank statement balance is just $203.73, so some transactions are missing.

We must first find the difference between what George believes his balance should be and what the bank tells him: $221.57 - $203.73 = $17.84

There are three transactions that were possibly not recorded:

I) check to the florist (-$20.25)

II) check to dry cleaner (-$14.29)

III) deposit in transit (+$38.09)

Combination of I + III = $17.84

Combination of II + III = $23.80