Question

Do the Math 5-3
Reconciling a Checking Account

Andrew Parker, of San Marcos, Texas, has a checking account at the credit union affiliated with his university. Illustrated below are his monthly statement and check register for the account.

Account Name	Andrew Parker	Period of Activity	11/2/18- 12/01/18
Account #	123-45678
Summary of Your Activity This Month
Date	Activity	Amount	Balance
11/02			$ 405.56
11/04	Debit Card POS Transaction	$ 17.53	388.03
11/09	Check #237	33.03	355.00
11/12	Direct Deposit	860.00	1,215.00
11/13	Debit Card POS Transaction	679.47	535.53
11/13	EFT	82.12	453.41
11/15	Check #238	22.70	430.71
11/23	Debit Card POS Transaction	68.87	361.84
11/27	Debit Card POS Transaction	43.39	318.45
11/28	Deposit	200.00	518.45
11/30	Check #239	110.00	408.45
11/30	Service Charge	4.50	403.95
11/30	ATM Withdrawal	100.00	303.95
12/01	Check #240	43.00	260.95

Date	Check #	Payee/Payor	For	Amount	Balance
11/01					$  405.56
11/03	Debit Card	CVS	Cold Meds	$ 17.53	388.03
11/05	237	Univ. Book Store	Of Mice and Men	33.03	355.00
11/12	Deposit	PNC Bank	Payday-Yeah!	860.00	1,215.00
11/12	238	ABC Property Mgmt.	Rent	679.47	535.53
11/13	Debit Card	Kroger's	Groceries	82.12	453.41
11/13	Electronic Payment	Maysville Water	Water Bill	22.70	430.71
11/23	Debit Card	Kroger's	Groceries	67.88	362.83
11/23	Debit Card	Applebee's	Dinner with Karen	43.39	319.44
11/27	Deposit	Mom	For Utilities	200.00	519.44
11/27	239	Duke Power	Electric/Heat Bill	110.00	409.44
11/27	240	Conoco	Gas	43.00	366.44
11/30	Debit Card	ATM Withdrawal	Carry Around Money	100.00	266.44
12/01	241	Comcast	Cable Bill	50.77	216.67

Reconcile the checking account and answer the following questions. Leave no cells blank. Enter zero wherever required.

What is the total of the outstanding checks? Round your answer to the nearest cent.

$  

What is the total of the outstanding deposits? Round your answer to the nearest cent.

$  

Why is there a difference between the uncorrected balance in the check register and the balance on the statement?

What is the updated and correct balance in the check register? Round your answer to the nearest cent.

$  

Answer 1

Account Name	Andrew Parker	Period of Activity	11/2/18-
			12-01-2018
Account #	123-45678
Summary of Your Activity This Month
Date	Activity	Amount	Balance
11-Feb			$ 405.56
11-Apr	Debit Card POS Transaction	$ 17.53	388.03
11-Sep	Check #237	33.03	355
11-Dec	Direct Deposit	860	1,215.00
Nov-13	Debit Card POS Transaction	679.47	535.53
Nov-13	EFT	82.12	453.41
Nov-15	Check #238	22.7	430.71
Nov-23	Debit Card POS Transaction	68.87	361.84
Nov-27	Debit Card POS Transaction	43.39	318.45
Nov-28	Deposit	200	518.45
Nov-30	Check #239	110	408.45
Nov-30	Service Charge	4.5	403.95
Nov-30	ATM Withdrawal	100	303.95
12-Jan	Check #240	43	260.95
Date	Check #	Payee/Payor	For	Amount	Balance
11-Jan					$  405.56
11-Mar	Debit Card	CVS	Cold Meds	$ 17.53	388.03
11-May	237	Univ. Book Store	Of Mice and Men	33.03	355
11-Dec	Deposit	PNC Bank	Payday-Yeah!	860	1,215.00
11-Dec	238	ABC Property Mgmt.	Rent	679.47	535.53
Nov-13	Debit Card	Kroger's	Groceries	82.12	453.41
Nov-13	Electronic Payment	Maysville Water	Water Bill	22.7	430.71
Nov-23	Debit Card	Kroger's	Groceries	67.88	362.83
Nov-23	Debit Card	Applebee's	Dinner with Karen	43.39	319.44
Nov-27	Deposit	Mom	For Utilities	200	519.44
Nov-27	239	Duke Power	Electric/Heat Bill	110	409.44
Nov-27	240	Conoco	Gas	43	366.44
Nov-30	Debit Card	ATM Withdrawal	Carry Around Money	100	266.44
12-Jan	241	Comcast	Cable Bill	50.77	216.67
What is the total of the outstanding checks? Round your answer to the nearest cent.
$  50.77
What is the total of the outstanding deposits? Round your answer to the nearest cent.
There is no outstanding deposit.
Why is there a difference between the uncorrected balance in the check register and the balance on the statement?
There is a diff of $0.99 cents between the groceries bill because of electronic charges on the bank statement not yet recorded on the books.
What is the updated and correct balance in the check register? Round your answer to the nearest cent.
$ 215.68