Question

A checking account has the following balances:

1. Check register balance of $459.70
2. Bank statement balance of $562.43
3. Two outstanding checks of $76.40 and $29.83
4. Service charge of $3.50.

What is the true balance?

Answer 1

THIS ANSWER IS CORRECT!!

Explanation:

What is the true balance?

$456.20

You have the Check registar balance which includes your outstanding checks. You minus the $3.50 fee to get the true balance.

Answer 2

The true balance is $562.43

Explanation:

1. Check register balance of $459.70

2. Bank statement balance of $562.43

3. Two outstanding checks of $76.40 and $29.83

4. Service charge of $3.50.

The working is shown like -

Subtract the service charge from check register balance

`459.70-3.50=456.20` dollars

Then add the outstanding checks to this

`456.20+76.40+29.83=562.43` dollars

Hence, the true balance is $562.43.