Question

What is the reconciled ending balance for a checking account with a balance of $1,800.00 on the month-end statement from the bank, with $3,200.00 deposited during the month, which is not yet showing, and $600.00 in outstanding checks that have not yet posted to the account?

Answer 1

To calculate the reconciled ending balance, add the deposit not yet shown ($3,200.00) to the statement balance ($1,800.00), then subtract the outstanding checks ($600.00). The reconciled ending balance is $4,400.00.

Step-by-step explanation:

The question involves calculating the reconciled ending balance for a checking account. To find the reconciled balance, we need to adjust the month-end statement balance with the transactions that have not yet been reflected in the bank's records.

The month-end statement from the bank shows a balance of $1,800.00. We need to add the $3,200.00 deposited, which has not yet appeared on the statement. Next, we deduct the $600.00 in outstanding checks that haven't posted. The calculation is as follows:

Statement Balance: $1,800.00
+ Deposits not reflected: $3,200.00
- Outstanding checks: $600.00

Reconciled Ending Balance: $1,800.00 + $3,200.00 - $600.00 = $4,400.00.

Therefore, the reconciled ending balance for the checking account is $4,400.00.

To calculate the reconciled ending balance, add the deposit not yet shown ($3,200.00) to the statement balance ($1,800.00), then subtract the outstanding checks ($600.00). The reconciled ending balance is $4,400.00.