Exam 4: Banking

Compute the reconciled balance: Bank Checkbook Statement Additional Reconciled Balance Balance Information Balance \ 5,543.24 \ 6,981.32 NSF \ 88.10 Service Charge 15 Interest Credited 12.15 Deposit in Transit 99.1 Checks Outstanding 1,628.1

Calculate the balance carried forward: Previous Balance Brought Forward Deposit(s) Amt. of Check Balance Carried Forward \ 515.88 \ 62.43 \ 21.87 ?

The bank statement of July 31, for Savon Co. showed a balance of $6,008.10, and the checkbook showed a balance of $1,900.40. The bookkeeper of Savon Co. noticed from the bank statement that the bank had collected a note for $666.66. There was a deposit in transit made on July 1, for $1,100.10 along with the outstanding checks of $4,580.54. Check charges were $39.40. The reconciled balance is:

Jodie has a checkbook balance of $733.17; she wrote a check payable to Finney's Gym for $24.99 on June 1 and another check for $382.77 payable to Ford Credit on June 10. On June 28, her payroll check from Maryville College for $2,210.54 was deposited electronically. What was her balance on June 28? What is Jodie's balance on June 28?

The checkbook of Vance Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected a $2,000 note minus a $5 service charge. There was a deposit in transit of $610.88. Several checks outstanding totaled $1,196.17. Vance collected $42.33 in interest on the checking account. Vance recorded a $300 check for $400. The bank service charge is $14.99. What is the adjusted reconciled balance?

Match the following terms with their definitions. -Nonsufficient funds

The effect of using an ATM card is the same as using a debit card; both result in money deducted from a checking account.

On Dec. 31 the checkbook balance of Rose Co. was $755.09. The bank statement balance was $602.05. Checks outstanding were $249.54. The statement revealed a deposit in transit of $401.95 as well as a bank service charge of $13.05. The company earned interest income of $12.42. Complete a bank reconciliation for Rose Co.

From the following, prepare a bank reconciliation for the J. Company: Service charge $10 Checks outstanding $730 NSF $100 Deposits in transit $1,040 Checkbook balance $2,000 Bank balance $1,580

Match the following terms with their definitions. -Credit memo

Online banking is always safe.

A reconciled balance is found on the front side of a bank statement.

The Swell Co. had a beginning checkbook balance of $1,792.15. Record the following in the check stubs provided: 200x A. Oct. 17 check number 162 payable to Ray Co. for $282.88 for supplies B. $700.50 deposit Oct. 19 (record deposit on second check stub) C. Oct. 25 check number 163 payable to Flynn Co. for $382.41 for insurance

The Losponato Co. had a beginning checkbook balance of $1,982.15. Record the following in the check stubs provided: 200x A. Oct. 19 check number 155 payable to Bill Co. for $185.66 for supplies B. $1,200.85 deposit Oct. 21 (record deposit on second check stub) C. Oct. 24 check number 156 payable to Fudge Co. for $421.88 for entertainment expenses

Norm's concrete company had the following activity on its bank statement last month: Beginning balance: \ 12,133.14 Deposits of: \ 600.00;\ 613.13;\ 1,176.25 Total checks written: \ 10,233.76 Service fee: \ 40.00 Ending balance: ?

Calculate the balance carried forward: Previous Balance Brought Forward Deposit(s) Amt. of Check Balance Carried Forward \ 695.33 \ 55.10;\ 88.40 \ 395.88 ?

Mobile banking is increasing today.

Match the following terms with their definitions. -Check register

Timing plays no role in differences between reconciling checkbook balances and bank balances.

Match the following terms with their definitions. -Payee