Felipe Aguilar has a NOW account at the Second State Bank. His checkbook ledger
ID: 2383340 • Letter: F
Question
Felipe Aguilar has a NOW account at the Second State Bank. His checkbook ledger lists the following checks:
Check Number Amount
Felipe also made the following withdrawals and deposits at an ATM near his home:
11/1 $50.00 Withdrawal
11/2 $525.60 Deposit
11/6 $100.00 Deposit
11/14 $75.00 Withdrawal
11/21 $525.00 Deposit
11/24 $150.00 Withdrawal
11/27 $225.00 Withdrawal
11/30 $400.00 Deposit
Felipe's checkbook ledger shows an ending balance of $286.54. He has just received his bank statement for the month of November. It shows an ending balance of $622.44; it also shows that he earned interest for November of $3.28, had a check service charge of $8 for the month, and had another $12 charge for a returned check. His bank statement indicates the following checks have cleared: 654, 662, 672, 674, 675, 676, 677, 678, 679, and 681. ATM withdrawals on 11/1 and 11/14 and deposits on 11/2 and 11/6 have cleared; no other checks or ATM activities are fisted on his statement, so anything remaining should be treated as outstanding. Use a checking account reconciliation form and reconcile Felipe’s checking account.
Explanation / Answer
Bank Reconcilliation Balance as per bank Statement 622.44 Less: Interest Earned -3.28 Add: Service Charge 8 Add: Return Cheque charge 12 Add: Deposit on 11/2 525.6 Add: Deposit on 11/21 525 Add: Deposit on 11/30 400 Less: Withdrawl on 11/24 -150 Less: Withdrawl on 11/24 -225
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