Question

Valdez Company opened a special checking account. The charge for each check written was either $.55 or a $6-a-month minimum service charge (whichever is greater). At the beginning of the month, the company checkbook balance was $695.18. Valdez Company wrote 14 checks totaling $312.88. Deposits of $188.10 and $195.10 were made during the month. What's Valdez's checkbook balance to start the next month (including the cost of check writing)?

Answer 1

$757.80

Explanation:

Starting Balance - $695.18

minus written checks - $312.88 = $382.30

plus deposit total - $383.20 = 764.50

minus check charge - $7.70 ($.55 x 14) = $757.80

Answer 2

Valdez Company opened a special checking account. The charge for each check written was either $.55 or a $6-a-month minimum service charge (whichever is greater). At the beginning of the month, the company checkbook balance was $695.18. Valdez Company wrote 14 checks totaling $312.88. Deposits of $188.10 and $195.10 were made during the month. What's Valdez's checkbook balance to start the next month (including the cost of check writing)?