Bank Account Reconciliation Quiz

Erin has a balance of $1,150.34 in her check register. On her bank statement, the balance of her account is $844.93. Not reported on the statement are deposits of $125.56, $50, and $212.34. There are outstanding checks in the amount of $15 and $78.25 and an ATM withdrawal of $40. After Erin reconciles her check register with her statement, what entry does she need to make in her register?

• Add $125.56

• Subtract $78.25

• Add $212.34

• Subtract $40

Ron and Annie have $1,239.45 in their checking account. During the week Annie goes to the ATM and withdraws $80. The following week Ron deposits his paycheck of $689.65. Annie then pays bills online in the amounts of: $212.80, $55, $49.76, and $110.35. What is the current balance in their checking account?

• $1,421.19

• $1,421.39

• $1,421.59

• $1,421.79

The Parsons have a balance of $3,664.47 in their check register. On their bank statement, the balance is $2,346.89. Not reported on the bank statement are checks of $324.56, $25.50, $78.92, and $30.25. There are also three ATM withdrawals of $60 each. There are outstanding deposits in the amount of $500 and $1,456.81. Does their account reconcile?

• Yes

• No

Allison currently has a balance of $2,300 in her checking account. She deposits $425.33 paycheck, a $20 rebate check, and a personal check for $550 into her checking account. She wants to receive $200 in cash. Fill out a deposit slip representing her transactions. What is Allison’s new balance?

• $3,095.33

• $3,095.00

• $3,095.67

• $3,095.50

What is the balance of the account after going to the grocery store on June 27th?

• $500.24

• $610.83

• $540.26

• $429.67

What is the balance of this checking account after the transactions shown?

• $434.91

• $444.39

• $585.83

Autumn is known for her vegetable garden. During the summer, she made money selling

vegetables to a local restaurant. After every market day, Autumn prepares her payment to put into the bank. What is this payment called?

• Deposit

• Withdrawal

• Interest

• investment

You are a member of a bank who charges $27 per check in overdraft protection fee. You have $1,400 in your checking account and make the following purchases: $380.15, $670,$195.67, $180,$87.60. What will you pay in overdraft fees and what will you owe the bank?

• Owed: $161.85

  Fee: $147

• Owed: $167.42

  Fee: $54

• Owed: $167.42

  Fee: $27

When you make a withdrawal are you adding money or subtracting money into your account?

• Adding money

• Subtracting money

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