Question

1. Roshida Cowling shows a $1,181.11 checkbook balance. The bank statement shows a $2,111.46 balance and a $10.00 service charge. Outstanding checks total $940.35. What is Roshida's adjusted checkbook balance? Does it balance with the bank statement.

2. Julie March has a checkbook balance of $565.67. She has not recorded these checks: Check 123 for $23.34, Check 124 for $45.88, and Check 125 for $76.05. Julie also needs to record a deposit of $125. What is her checkbook balance now?

3. Penny Schwartz has a balance of $2668.77 in her checkbook. The bank collected notes totaling $235.11 and charged her a $25.00 service charge. There were no outstanding checks or deposits. What should her reconciled checkbook balance be?

4. On December 31, the checkbook balance of Huffman Company was $45,980.65. The bank statement showed $78,452.10. Checks outstanding totaled $12,878.03. The statement revealed an unrecorded deposit in Huffman's checking account of $19,617.27 as well as a service charge of $23.85. What is the bank statement balance after the checks are included?

5. Tito Bates' bank statement showed a balance of $965.51. He had the following outstanding checks: Check 556 for $23.09, Check 559 for $86.44, Check 560 for $1.25, and Check 561 for $161.59. The bank collected a $45 note and charges a $13.50 service fee. Tito's balance in his checkbook was $661.64. What was the checkbook balance after reconciliation?

Answer 1

1)	Unadjusted bank balance				2111.46
	less:outstanding checks				-940.35
	Adjusted bank balance				1171.11
	unadjuated cash balance				1,181.11
	less service charge				-10
	Adjusted cash balance				1,171.11	answer
	Yes
2)	Unadjusted bank balance				565.67
	Add deposit in transit				125
					690.67
	less oustanding checks				-145.27
	adjusted bank balance				545.4	answer
3)	unadjuated cash balance				2,668.77
	less service charge				-25
	Add:notes collected				235.11
	Adjusted cash balance				2,878.88	answer
4)	Unadjusted bank balance				78452.1
	Add deposit in transit				19617.27
					98069.37
	less oustanding checks				-12878
	adjusted bank balance				85191.34	answer
5)	Unadjusted bank balance				965.51
	Add deposit in transit				0
					965.51
	less oustanding checks				-272.37
	adjusted bank balance				693.14	answer
	OR
	unadjuated cash balance				661.64
	less service charge				-13.5
	Add:notes collected				45
	Adjusted cash balance				693.14	answer