1)the monthly service chrage of $15. is it b)deducted from the checkbook or deducted from the bank statement balance.2)interest earned by the company on an investment and automtically deposited to the companys account. is either a or c. A)added to checkbook balance C) added to the bank statement balance.thank you so much foe helping me with everything i really needed thid help and appreciate it. thank you once again
1. the monthly service charge will be deducted by the bank and then the owner of the account will deduct it from the checkbook.
2. Automatic deposits will be added to the bank statement by the bank and then the ownr will add it to the checkbook balance.
Sra
1) The monthly service charge of $15 can be deducted from either the checkbook or the bank statement balance, depending on how you handle your finances.
To determine whether the $15 service charge is deducted from the checkbook or the bank statement balance, you need to understand how you keep track of your finances. There are typically two methods:
a) Checkbook Balance: If you maintain a checkbook register where you record all your financial transactions, including deposits, withdrawals, and service charges, then the $15 monthly service charge would be deducted from your checkbook balance. You would subtract $15 from your current checkbook balance to accurately reflect this deduction.
b) Bank Statement Balance: If you rely solely on your bank statements to track your finances and do not keep a separate checkbook register, then the $15 service charge would be deducted from your bank statement balance. The bank will deduct the charge from your account and reflect it on the monthly bank statement, reducing the final balance they report to you.
It's important to regularly reconcile your checkbook balance with the bank statement balance to ensure accuracy and catch any discrepancies. This involves comparing your recorded transactions in the checkbook register with the transactions listed on your bank statement.
2) The interest earned by the company on an investment and automatically deposited to the company's account can be added to either the checkbook balance or the bank statement balance.
To determine where the interest earned on the investment is added, again, it depends on how you manage your finances:
a) Checkbook Balance: If you record all transactions, including interest earned, in your checkbook register, then the interest amount would be added to your checkbook balance. You would add the interest earned to the current checkbook balance to accurately reflect the additional funds.
c) Bank Statement Balance: If you rely on your bank statements to track your finances and the bank automatically adds the interest earned to your account without your intervention, then the interest would be added to the bank statement balance. The bank will include the interest earned in the final balance reported on the monthly bank statement.
In both cases, it's crucial to compare and reconcile your checkbook balance with the bank statement balance regularly to ensure accuracy.
Remember, financial practices may vary, so it's essential to review the specific terms and conditions of your account, consult your bank, or seek professional advice if you are unsure about how these transactions are handled in your particular situation.
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