2-2a Bank Reconciliations

Rona filled out this information on her monthly statement. Find Rona's revised statement balance. Does her account reconcile?

• yes; the revised statement balance matches the check register balance

• yes; the ending balance matches the check register balance

• no; the ending balance does not match the check register balance

• no; the checks outstanding do not match the deposits outstanding

Tags

CCSS.7.NS.A.1D

Which of the following is true about the checking account summary provided?

• The revised statement balance is 181.95

• The revised statement balance does not match the check register balance

• The checking account summary does not reconcile

• All of the above

Tags

CCSS.7.NS.A.1D

Jill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. She wants to switch to a different account with a fee of $0.20 per check and a $12.50 monthly maintenance fee. Jill wants to estimate the fees for her new account. Below is a summary of the checks she has written from May to August.

What is the mean number of checks Jill wrote per month during the last four months?

Answer explanation

Total amount of checks on statement divided by the amount of months

Jill has not been able to maintain the $1,000 minimum balance required to avoid fees on her checking account. She wants to switch to a different account with a fee of $0.20 per check and a $12.50 monthly maintenance fee. Jill wants to estimate the fees for her new account. Below is a summary of the checks she has written from May to August.

Based on the mean, estimate how much Jill expects to pay in per-check fees each month after she switches to the new account

What is the ending balance on the bank statement?

• $871.50

• $1,434.19

• $1,445.59

• $725.19

Tags

CCSS.7.NS.A.3

What is the total outstanding deposits?

• 1,142.00

• 39.00

• 950.00

• 700.00

Tags

CCSS.6.NS.B.3

What is the total of the outstanding withdrawals?

• $33.00

• $89.00

• $42.00

• $72.00

Tags

CCSS.6.NS.B.3

What does the balance of the check register and the revised statement balance equal?

• $2,045.19

• $42.00

• $871.50

• $1,434.19

Tags

CCSS.HSN.CN.A.2

Checks that do not appear on the bank statement are called:

• outstanding checks

• outstanding deposits

• withdrawals

• bank account

The process of verifying a bank's records to make sure no errors were made

• Bank account

• Savings Account

• Hail Mary

• Bank reconciliation