Question

What is the ending balance in the account after considering the following transactions?

Beginning balance: $40
Wrote checks:
#23 - $17
#24 - $2
#25 - $32
#26 - $50

Made deposits:
1/1 - $200
1/15 - $200

Bank fees:
Check printing - $5
Below minimum - $10

A) $19
B) $53
C) $70
D) $125

Answer 1

The ending balance in the account is $324 after calculating starting balance, adding deposits, subtracting checks written, and subtracting bank fees.

Step-by-step explanation:

To determine the ending balance in the account, you need to consider all transactions, including deposits, checks written, and any bank fees. Here is how you can calculate it:

• Start with the beginning balance: $40
• Add the total deposits made: $200 + $200 = $400
• Subtract the total amount of checks written: $17 + $2 + $32 + $50 = $101
• Subtract bank fees for check printing and below minimum fee: $5 + $10 = $15

Now calculate the ending balance:

1. Beginning balance + Deposits = $40 + $400 = $440
2. Subtract checks written: $440 - $101 = $339
3. Subtract bank fees: $339 - $15 = $324

The ending balance in the account after considering all the transactions is $324.