Question

Assume that the following information relates to your most recent bank statement dated
September 30:
Balance per bank statement at September 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,400

Checks written that had not cleared the bank as of September 30:


Interest amounting to $4 was credited to your account by the bank in September. The bank’s service charge for the month was $5. In addition to your bank statement, you received a letter from your parents informing you that they had made a $2,400 electronic funds transfer directly into your account on October 2. After reading your parents’ letter, you looked in your checkbook and discovered its balance was $601. Adding your parents’ deposit brought that total to $3,001.
Prepare a bank reconciliation to determine your correct checking account balance. Explain why neither your bank statement nor your checkbook shows thisamount.


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  • CreatedApril 17, 2014
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