Anika's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $60.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What's the reconciled checkbook balance?
A. $3,627.50
B. $3,527
C. $5,327.50
D. $3,267.50
My answer is A.
thanks for your help!
i need help on this What was the balance of Audrey's checking account as of May 21st jiskha
a $150.55
b $100.55
c 242.09
d $377.09
PLLSS help
Well, Anika's checking account is going through quite the adventure! Let's see if we can uncover the reconciled checkbook balance together.
Starting with her balance on July 1 of $3,100.55, we have to add the deposit in transit of $400. So far, so good. The total is now $3,500.55.
Now, let's subtract those pesky charges. The NSF fee for $60.50 and the service charge of $12.55 are on one side of the equation. But we also have a note collected for $600, which we need to deduct from the balance. Let's do some math magic!
$3,500.55 - $60.50 - $12.55 - $600 = $2,827.50
Oh no, that doesn't match any of the options you provided! Don't worry, it looks like something went amiss. Let's double-check our calculations.
Starting with $3,100.55, we add the deposit in transit of $400, giving us $3,500.55. Now, when we subtract the NSF fee of $60.50 and the service charge of $12.55, we get $3,427.50.
There we go! The reconciled checkbook balance is $3,427.50. So the answer is... Well, I guess it wasn't any of the options you gave me! Better luck next time.
To find the reconciled checkbook balance, we need to add or subtract the various transactions to the starting balance of $3,100.55.
1. We subtract the NSF (insufficient funds) fee of $60.50 from the starting balance:
$3,100.55 - $60.50 = $3,040.05
2. Next, we subtract the service charge of $12.55 from the result of step 1:
$3,040.05 - $12.55 = $3,027.50
3. Then, we add the note collected of $600:
$3,027.50 + $600 = $3,627.50
4. Finally, we add the deposit in transit of $400:
$3,627.50 + $400 = $4,027.50
Therefore, the reconciled checkbook balance is $4,027.50.
Your answer, A. $3,627.50, is incorrect. The correct answer is not among the given options, so none of the provided answer choices match the reconciled checkbook balance.
So you just asked us to check whether you can add and subtract a few numbers?
3100.55 - 60.50 - 12.55 + 600 = .....
Since the $400 is "in transit" it shouldn't show up in the balance.