Question

Bennett has a balance of $2,311.27 in their check register. Their bank statement includes outstanding checks in the amount of $274.53, $35.40, $65.92, and $30.25. There are outstanding deposits in the amount of $400 and $1,258.51. There are four ATM withdrawals of $70 each. What is the actual balance in

Bennett's account?

Answer 1

To find the actual balance in Bennett's account, subtract the total outstanding checks and ATM withdrawals from the initial balance and add the outstanding deposits. The calculation shows that the actual balance is $3,283.68.

Step-by-step explanation:

To calculate the actual balance in Bennett's account, we need to consider outstanding checks, outstanding deposits, and ATM withdrawals. The balance according to the check register is given as $2,311.27.

• Subtract the total of outstanding checks: $274.53 + $35.40 + $65.92 + $30.25 = $406.10
• Add the total of outstanding deposits: $400 + $1,258.51 = $1,658.51
• Subtract the total ATM withdrawals: 4 x $70 = $280

Now, adjust the balance:

1. Subtract the total outstanding checks: $2,311.27 - $406.10 = $1,905.17
2. Add the total outstanding deposits: $1,905.17 + $1,658.51 = $3,563.68
3. Subtract the total ATM withdrawals: $3,563.68 - $280 = $3,283.68

The actual balance in Bennett's account is $3,283.68.