Question 1

Last week, Nina's tax refund of $715 was deposited into her account. The bank also charged her $15 for a returned check. If her checkbook has a balance of $1,025.61, what should it be?

Accepted Answer

The answer of Last week, Nina's tax refund of $715...

Question 2

Matthew wrote check number 117 on June 12, 20-- in the amount of $255 to The College BookStore for books. His previous balance was $926.00. Fill out the check stub below.

Accepted Answer

The answer of Matthew wrote check number 117 on June...

Question 3

What is the limit of FDIC insurance for deposits in case of bank failure?

Accepted Answer

The answer of What is the limit of FDIC insurance...

Question 4

What information is not found on a check?

Accepted Answer

The drawer's social security number is not found on a check for security reasons.

Question 5

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

Accepted Answer

The Answer of the process of moving funds electronically and is...

Question 6

When a check is returned for _______________ , it means there was not enough money in the account to pay the check.

Accepted Answer

The answer of When a check is returned for _______________...

Question 7

Nancy's checkbook shows a balance of $1,723.56. When she wrote a check for $42.75 for the dog groomer, she accidentally recorded the check as $45.75. What is the correct checkbook balance?

Accepted Answer

The answer of Nancy's checkbook shows a balance of $1,723.56....

Question 8

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...

Question 9

Tyrone received his paycheck on Friday. To put the money into his checking account, he needs to fill out a __________.

Accepted Answer

The answer of Tyrone received his paycheck on Friday. To...

Question 10

Omar wrote a check for $146.89 but recorded it in his checkbook as $156.89. His checkbook balance showed $574.34 What should it show?

Accepted Answer

The answer of Omar wrote a check for $146.89 but...

Question 11

The _______________ in a checkbook is calculated after a check is subtracted or a deposit is added to an account.

Accepted Answer

The answer of The _______________ in a checkbook is calculated...

Question 12

When Alicia got her bank statement it showed a balance of $413.58. She saw 3 ATM fees of $1.50, $2.50, and $2.00 and no outstanding deposits. The outstanding checks were: Check 103 for $15, Check 106 for $7.35, and Check 109 for $48.19. Alicia's checkbook balance is $368.50. What is the difference between her adjusted checkbook balance and the adjusted bank statement balance?

Accepted Answer

The answer of When Alicia got her bank statement it...

Question 13

Roland works for a hardware store. During the week, he makes deposits for the company and records them in a check ledger. Last week he made these deposits: $1,450, $765.90, $1,325.71, $597.34, and $877.45. If the beginning ledger balance was $13,821.58, what is the balance after these deposits?

Accepted Answer

The answer of Roland works for a hardware store. During...

Question 14

Janice Thomas wrote a check for $213.75 but recorded the check in her checkbook register as $203.75. Will her running balance show more or less money and by how much?

Accepted Answer

The answer of Janice Thomas wrote a check for $213.75...

Question 15

Mrs. Washington deposited her paycheck of $818.57 into her checking account. She accidentally recorded the deposit in her checkbook as $828.57. Her checkbook balance showed $1,878.45. What should it show?

Accepted Answer

The answer of Mrs. Washington deposited her paycheck of $818.57...

Question 16

A ________________ is a report from the bank that shows all the paid checks, deposits, charges, and the balance on a checking account.

Accepted Answer

The answer of A ________________ is a report from the...

Question 17

Mary Rutledge has a checkbook balance of $1,527.09. Her bank statement shows an unexpected direct deposit of $623.18 and ATM fees that total $5.50. There are no outstanding checks or deposits. What should her adjusted checkbook balance be?

Accepted Answer

The answer of Mary Rutledge has a checkbook balance of...

Question 18

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 19

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 20

What is incorrect about the check stub below? No. 119 $ 53.16 DATE April 19, 20-- TO Rosie's Alterations FOR Alterations BAL FOR'D 894.81 DEPOSITS 95 THIS CHECK 53.16 DEDUCTIONS 0 BAL FOR'D 841.65

Accepted Answer

The answer of What is incorrect about the check stub...

Quiz 4: Bank Services