Carol Stokke receives her April 6 bank statement showing a b

Carol Stokke receives her April 6 bank statement showing a balance of $1,089.25 her checkbook balance is $1,013.25. The bank statement shows an ATM charge of $26.30, NSF fee of $27.50, earned interest of $2.85, and Carol’s $783.65 refund check, which was processed by the IRS and deposited to her account. Carol has two checks that have not cleared—No. 115 for $531.35 and No. 116 for $248.50. There is also a deposit in transit for $1,436.55.

Prepare Carol\'s bank reconciliation.(Input all amounts as positive values. Round your answers to 2 decimal places.)

Solution

Carol\'s Bank reconciliation

Carol\'s Checkbook balance

$1,013.25

Bank balance

$1,089.25

Add

Add

Check no.115

$531.35

ATM Charge

$26.30

Check no.116

$248.50

NSF Fees

$27.50

Interest

$2.85

Deposit in transit

$1,436.55

Refund check

$783.65

$1,566.35

$1,490.35

$2,579.60

$2,579.60

Deduct

Deduct

ATM Charge

$26.30

Check no.115

$531.35

NSF Fees

$27.50

Check no.116

$248.50

Deposit in transit

$1,436.55

Interest

$2.85

$1,490.35

Refund check

$783.65

$1,566.35

Reconciled balance

$1,089.25

Reconciled balance

$1,013.25