Problema Solution
Kameron Gibson's bank statement showed a balance of $717.72. Kamerons's checkbook had a balance of $209.50. Check No. 104 for $110.07 and check No. 105 for $15.55 were outstanding. A $620.50 deposit was not on the statement. He has his payroll check electronically deposited to his checking account-the payroll check was for $1,025.10. There was also a $4 teller fee and an $18 service charge. Prepare Kameron Gibson's bank reconciliation.
Answer provided by our tutors
bank balance: 717.72
items not accounted for in the bank balance: -110.07, -15.55, +620.50
we assume the electronic payroll check did not show in the checkbook
checkbook balance: 209.50
items not account for in the checkbook balance: +1025.10, -4, -18
bank: 717.72 - 110.07 - 15.55 + 620.50 = 1212.60
checkbook: 209.50 + 1025.10 - 4.00 - 18.00 = 1212.60
after reconciling, the balance agree on a balance of $1,212.60