On October 31,2013,your company's records say that the company has $16,451.03 in its checking account.A review of the bank statement shows you have three outstanding checks totaling $5,643.01,and the bank has paid you interest of $12.19 and charged you $9.00 in fees.The bank statement dated October 31,2013 would report a balance of:

Question

Quizplus · Accepted Answer

The bank statement balance is calculated by adding the interest ($12.19) to the company's record balance ($16,451.03) and then subtracting the fees ($9.00), resulting in $16,454.22. However, the outstanding checks do not affect the bank statement balance, so the correct balance is $22,097.23.

On October 31,2013,your Company's Records Say That the Company Has