Question

HELP!!!! im timed in this and I need this asap. This was asked b4 but non had a conclusive/correct answer.

Type the correct answer in the box. Spell all words correctly.
John’s bank statement shows a closing balance for a given month as $2,200 and his personal account register shows a closing balance for the same month as $2,050.
John investigated his accounts to identify the following discrepancies:

Bank charges of $200 were charged.
There were checks of $200 that were not yet presented for payment.
Deposits not yet credited totaled $300.
$450 interest was credit to John’s account.
By how much is John’s bank reconciled?

John’s bank balance is reconciled at $_____.

Answer 1

Starting with the bank statement balance of $2,200, we consider the discrepancies:

Bank charges of $200 were charged: We subtract $200 from the bank statement balance.
Bank Statement Balance: $2,200 - $200 = $2,000

There were checks of $200 that were not yet presented for payment: These checks have not been deducted from the bank statement balance yet. So, we subtract the amount of the checks.
Bank Statement Balance: $2,000 - $200 = $1,800

Deposits not yet credited totaled $300: These deposits have not been added to the bank statement balance yet. Therefore, we add the total deposits.
Bank Statement Balance: $1,800 + $300 = $2,100

$450 interest was credited to John's account: This means that $450 was added to John's bank balance. We add this interest amount.
Bank Statement Balance: $2,100 + $450 = $2,550

Now, we compare the bank statement balance ($2,550) with the closing balance in John's personal account register ($2,050). To reconcile the balance, we subtract the personal account register balance from the bank statement balance.

Reconciled Bank Balance: $2,550 - $2,050 = $500

Got a different ans….

Answer 2

John’s bank balance is reconciled at $2250.

Here's how to calculate it:

Starting balance: $2,200

Add deposits not yet credited: + $300

Add interest credited: + $450

Subtract outstanding checks: - $200

Subtract bank charges: - $200

Adjusted bank balance: $2,500

Adjusted personal account register balance: $2,050

Difference: $2,500 - $2,050 = $450

Therefore, John’s bank balance is reconciled at $2,250 ($2,050 + $450).