Question 1

Sarah received her bank statement from Union Bank that showed a balance of $1,204.56. Checks outstanding were in the amounts of: $15, $8.50, $38.19, and $52.75. A $217 deposit was not recorded by the bank. The bank charged her $18 for new checks and a $12 service fee. Her checkbook showed a balance of $1,337.12. She filled out the reconciliation form below. What is filled out incorrectly on the form?

Accepted Answer

The answer of Sarah received her bank statement from Union...

Question 2

Henry Jacobs wrote a check for $123.78 but recorded the check in his checkbook register as $103.78. Will his running balance show more or less money and by how much?

Accepted Answer

The answer of Henry Jacobs wrote a check for $123.78...

Question 3

Kelly's checkbook shows a balance of $417.32. Her bank statement included ATM fees of $2.00, $1.50, and $3.00. Kelly had also forgotten to record two ATM withdrawals, one for $40 and another for $20. What should her new checkbook balance be?

Accepted Answer

The answer of Kelly's checkbook shows a balance of $417.32....

Question 4

Manuel has a $717.89 checkbook balance. His bank statement shows a $509.56 balance and an $8 service charge. His outstanding checks total $112.23. The deposit from his paycheck for $345 is also outstanding. What is his adjusted checkbook balance? Does it reconcile with the adjusted bank statement balance?

Accepted Answer

The answer of Manuel has a $717.89 checkbook balance. His...

Question 5

Match between columns
                        Premises: full endorsement
EFT
blank endorsement
restrictive endorsement
overdraft protection
ACH
reconciliation
digital check image

Accepted Answer

The Answer of a signature on the back of a is...

Question 6

Kevin uses Excel to make his deposit slips. His deposit slip shows currency in Cell F3, 3 checks in Cells F5 through F7, and cash he wants to get back in Cell F11. What formula should Kevin use in the net deposit Cell F12?

Accepted Answer

The answer of Kevin uses Excel to make his deposit...

Question 7

Franklin's bank statement showed a balance of $2,592.58. There were 2 ATM fees of $3.00 and $2.50. He had made three outstanding deposits not recorded by the bank for $115, $619.78, and $45.90. The outstanding checks were in the amounts of $23.89, $515.78, and $19. What is the adjusted bank balance?

Accepted Answer

The answer of Franklin's bank statement showed a balance of...

Quiz 4: Bank Services

Henry Jacobs wrote a check for $123.78 but recorded the check in his checkbook register as $103.78. Will his running balance show more or less money and by how much?

Kelly's checkbook shows a balance of $417.32. Her bank statement included ATM fees of $2.00, $1.50, and $3.00. Kelly had also forgotten to record two ATM withdrawals, one for $40 and another for $20. What should her new checkbook balance be?

Match each statement to the item listed below

Kevin uses Excel to make his deposit slips. His deposit slip shows currency in Cell F3, 3 checks in Cells F5 through F7, and cash he wants to get back in Cell F11. What formula should Kevin use in the net deposit Cell F12?

Franklin's bank statement showed a balance of $2,592.58. There were 2 ATM fees of $3.00 and $2.50. He had made three outstanding deposits not recorded by the bank for $115, $619.78, and $45.90. The outstanding checks were in the amounts of $23.89, $515.78, and $19. What is the adjusted bank balance?