Alfred Jones received a bank statement that showed a balance of $2,671.13. He noted that there was a $2.50 ATM fee and interest of $1.18. There was an outstanding deposit of $635. His outstanding checks were: Check 214 for $75, Check 217 for $115.89, and Check 218 for $48.19. What is the adjusted bank balance?
$3,067.05; The ATM fee and interest are accounted for in the statement. Add the outstanding deposit and deduct the outstanding checks.
$2,671.13 - ($75 + $115.89 + $48.19 ) + ($635 ) = $3,067.05
You might also like to view...
Which of the following statements is true of contract ratification?
A. For a person adjudicated insane, his or her personal representatives cannot ratify the contract. B. Minors who have lied about their age can ratify their contracts. C. People who regain their mental capacity can ratify their contracts. D. A contract is voidable if it is ratified on reaching majority.
The departmental responsibilities of the payroll function include all of the following except:
a. Reviewing the labor hours on the time record for accuracy. b. Summarizing the period's payroll data. c. Keeping a record of earnings for each employee. d. Computing deductions and withholdings for each employee.
In estimating cash receipts and cash payments for the cash budget, many organizations prepare supporting schedules
Indicate whether the statement is true or false
Studio 55, Inc. has an issue of preferred stock that pays a dividend of $4.00. The preferred
stockholders require a rate of return on this stock of 9%. At what price should the preferred stock sell for? Round off to the nearest $0.10. A) $88.80 B) $44.40 C) $62.50 D) $36.00