Question

On May 2, you receive your bank statement showing a balance of $1,641.18. Your checkbook shows a balance of $1,427.15. Outstanding checks are $167.31, $245.66,

and $302.56. The account earned $62.11. Deposit in transit amount to $555.61, and there is a service charge of $8.00. Calculate the reconciled balance.



CHECKBOOK BALANCE ___________ STATEMENT BALANCE ___________



Add: Add:

Interest Earned & Other Deposits in Transit ___________

Credits ___________

SUBTOTAL ___________ SUBTOTAL ___________



Deduct: Deduct:

Services Charges & Outstanding Checks ___________

Other Debits ___________





ADJUSTED CHECKBOOK ADJUSTED STATEMENT

BALANCE ___________ BALANCE ___________





2. On Novenber 4, your bank statement shows a balance of $2,253.18. Your checkbook shows a balance of $2,324.34. If there are outstanding checks in the amounts of $105.50 and $158.10, deposits in transit amount to $605.27, account earnings of $68.51 and there is a service charge of $5.00. Determine the Adjusted Checkbook Balance and the Adjusted Statement Balance.

Draw a conclusion.



3. Solve each of the following equations and show how you checked your answers:



a) 3x + 1 = 8





b) 3(n – 1) = 6





c) 2y + 4y = 6 – 3y



4. Kay and Allen sell cell phones. Last month Kay sold 17 more cell phones than Allen. Together they both sold 117 cell phones. How many phones did each of them sell individually? Show the equation you used to determine the answers.

Answer 1

On May 2, you receive your bank statement showing a balance of $1,641.18. Your checkbook shows a balance of $1,427.15. Outstanding checks are $167.31, $245.66, and $302.56. The account earned $62.11. Deposit in transit amount to $555.61, and there is a service charge of $8.00. Calculate the reconciled balance.

The computation is shown below:

Particulars Amount ($) Particulars Amount ($)

Checkbook balance 1,427.15 Statement balance 1,641.18

Add: Interest earned and Add: Deposits in transit 555.26

other credits 62.11

Less: Service charges Less: Outstanding checks (715.53)

and other debits (8.00)

Adjusted checkbook balance 1,481.26 Adjusted statement balance 1,481.26

The outstanding checks would be a total of

= $167.31 + $245.66 + $302.56

= $715.53

On Novenber 4, your bank statement shows a balance of $2,253.18. Your checkbook shows a balance of $2,324.34. If there are outstanding checks in the amounts of $105.50 and $158.10, deposits in transit amount to $605.27, account earnings of $68.51 and there is a service charge of $5.00. Determine the Adjusted Checkbook Balance and the Adjusted Statement Balance.

The final answer is "$2387.85 and $2594.85".

The bank statement balance= $2,253.18

The checkbook balance = $2,324.34

outstanding check amounts= $105.50 and $158.10

transit amount= $605.27

account earnin(credits)= $68.51

service charge= $5.00

Adjusted Checkbook Balance =?

Adjusted Statement Balance=?

Adjusted the Checkbook Balance:

checkbook balance = $2,324.34

bank statement balance= $2,253.18

4. Kay and Allen sell cell phones. Last month Kay sold 17 more cell phones than Allen. Together they both sold 117 cell phones. How many phones did each of them sell individually? Show the equation you used to determine the answers.

Allen sold 50 cell phones while Kay sold 67 cell phones.

Let the number of cell phones sold by Allen be x. This will imply that the number of cell phones sold by Kay is x + 17.

Furthermore, we are informed that together they sold a total of 117 cell phones. Therefore, we use the following equation to determine the number of cell phones sold by each;

x + x + 17 = 117

2x + 17 = 117

2x = 100

x = 50

Therefore, Allen sold 50 cell phones while Kay sold 67 cell phones.

Explanation: