Question

Chapter 4 Financial Planning Exercise 6 Checking account reconciliation Use Worksheet 4.1. Carlos Perez has a NOW account at the First State Bank. His checkbook ledger lists the following checks: Amount Check Numbers 654 658 $206.05 55.00 103.00 98.57 6.13 50.01 24.90 32.43 44.50 30.00 30.00 111.23 38.04 97.99 486.19 43.50 75.21 98.22

Answer 1

1	Ending balance shown on bank statement					622.44
	Add up checks and withdrawals still outstanding:
	Check Number or Date	Amount
	658	55
	668	98.57
	670	6.13
	671	50.01
	673	32.43
	680	486.19
	682	75.21
	683	98.22
	ATM 11-24	150
	ATM 11-27	225
	TOTAL	1276.76
2	Deduct total checks/withdrawals still outstanding from bank balance				-	1276.76
	Add up deposits still outstanding:
	Date	Amount
	11/21/15	525.18
	11/30/15	400.65
	TOTAL	925.83
3	Add total deposits still outstanding to bank balance				+	925.83
A.	Adjusted Bank Balance					271.51
4	Ending balance shown in checkbook					286.54
5	Deduct any bank service charges for the period				-	-20
6	Add interest earned for the period				+	4.97
B.	New Checkbook Balance					271.51
	Note: Your account is reconciled when line A equals line B.