Question

Christopher Rinaldi receives his bank statement for the month. His balance is $1,770.99. In comparing his check register, canceled checks, and bank statement, he finds that two checks are outstanding. The amounts are $72.50 and $126.00.

What is Rinaldi’s adjusted balance?
A. $1.698.49
B. $1,672.45
C. $1,770.99
D. $1,572.49

Answer 1

To find the adjusted balance, subtract the amounts of the outstanding checks from the current balance. The adjusted balance is D. $1,572.49.

Step-by-step explanation:

To find the adjusted balance, we need to subtract the amounts of the outstanding checks from the current balance. In this case, the outstanding checks are $72.50 and $126.00. So, the adjusted balance would be:

Adjusted balance = Current balance - Outstanding checks

Adjusted balance = $1,770.99 - $72.50 - $126.00

Adjusted balance = $1,572.49

Therefore, the correct answer is D. $1,572.49.