Question

H. On the back of Elise's monthly statement, she listed the following outstanding

withdrawals:
# 123, $76.09 ; # 117, $400 ; # 130, $560.25; debit card, $340.50; and #138 , $83.71. She also
determined that a deposit for $500 and another for $328.90 are outstanding. Using these
outstanding transactions, what adjustment will have to be made to her statement balance?

Answer 1

Answer: 631.65

Step-by-step explanation:

To determine the adjustment that needs to be made to Elise's statement balance, we need to calculate the net effect of the outstanding withdrawals and deposits.

First, let's calculate the total amount of the outstanding withdrawals:

- Withdrawal #123: $76.09

- Withdrawal #117: $400

- Withdrawal #130: $560.25

- Debit card: $340.50

- Withdrawal #138: $83.71

Total outstanding withdrawals = $76.09 + $400 + $560.25 + $340.50 + $83.71 = $1460.55

Next, let's calculate the total amount of the outstanding deposits:

- Deposit 1: $500

- Deposit 2: $328.90

Total outstanding deposits = $500 + $328.90 = $828.90

Now, to determine the adjustment, we need to subtract the total outstanding deposits from the total outstanding withdrawals:

Adjustment = Total outstanding withdrawals - Total outstanding deposits

Adjustment = $1460.55 - $828.90

Adjustment = $631.65

Therefore, the adjustment that needs to be made to Elise's statement balance is $631.65. This means that the statement balance needs to be decreased by $631.65 to account for the outstanding withdrawals and deposits.

Answer 2

To find the adjustment that needs to be made to Elise's statement balance, add up the outstanding withdrawals and subtract the outstanding deposits. The adjustment needed is $631.65.

Step-by-step explanation:

To find the adjustment that needs to be made to Elise's statement balance, we need to add up the outstanding withdrawals and subtract the outstanding deposits.

The total amount of outstanding withdrawals is $76.09 + $400 + $560.25 + $340.50 + $83.71 = $1460.55.

The total amount of outstanding deposits is $500 + $328.90 = $828.90.

Therefore, the adjustment that needs to be made to Elise's statement balance is $1460.55 - $828.90 = $631.65.