Question

Mary's last bank statement showed an ending balance of ​$. This​ month, she deposited in her account and withdrew a total of ​$. ​Furthermore, Mary wrote a total of five​ checks, two of which have cleared. The two checks that have cleared total ​$. The three remaining checks total ​$. Mary pays no fees at her bank. What is the balance shown this month on​ Mary's bank​ statement? What is the adjusted bank​ balance?

Answer 1

1. $305.05

2. $217.71

Explanation:

The computation of balance shown this month on Mary's bank statement is shown below:-

Balance as per bank book (ending)

= Opening balance + Deposit - Withdrawal - Cheque cleared

= $129.97 + $476.23 - $185.54 - $115.61

= $305.05

The computation of adjusted bank balance is shown below:-

Adjusted bank balance = Ending bank balance - Uncleared cheque

= $305.05 - $87.34

= $217.71