On August 1 Charles checking account register showed a balan

On August 1, Charles’ checking account register showed a balance of $2,416.78. After reviewing his bank statement he noticed an NSF charge in the amount of $70.25, a service charge of $19.00, and a note collected for $456.00. There was one deposit not yet credited for $155.00 and no checks outstanding. What was his reconciled balance?

Solution

Ans-

Your checkregister shows 2416.78
NSF=overdraft he gets fee\'d
now its 2416.78 - 70.25 = 2346.53
and a service charge 2346.53-19.00=2327.53
i havent learned what a note is yet.. so you might add or subtract
soo. 2327.53+456=2783.53 or it is 2327.53-456=1871.53
he has a deposit.. 2783.53+155= 2938.53 or 2026.53
IF THAT 456 dollar note collected means a CREDIT, then he has a reconciled balance of $2938.53
IF THAT 456 dollar note collected means a DEBIT, then he has a reconciled balance of $2026.53

Source(s):bus/personal finance class.im a freshman btw

he primary form used in a checking account is a check register.True
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