Chapter 4 eBook Financial Planning Exercise 6 Checking account reconciliation Use Worksheet 4.1. Mateo Gonzalez has an interest-paying (NOW) checking account at the Second State Bank. His checkbook ledger lists the following checks: Check Numbers Amount 654 658 662 $206.05 55.17 103.00 668 99.38 670 6.18 671 50.50 672 24.90 673 32.46 674 44.50 675 30.00 676 30.00 677 111.23 678 38.04 679 97.99 680 486.86 681 43.50 682 75.07 683 98.72 Mateo also made the following withdrawals and deposits at an ATM near his home: Date 11/1 Amount $50.00 Transaction withdrawal 11/2 $525.60 deposit 11/6 $100.00 11/14 $75.00 11/21 $525.64 deposit withdrawal deposit 11/24 $150.00 11/27 $225.00 11/30 $400.15. withdrawal withdrawal deposit Mateo'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 $2.35, 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 listed on his statement, so anything remaining should be treated as outstanding. Use a checking account reconciliation form like the one in Worksheet 4.1 to reconcile Mateo's checking account. Round your answers to the nearest cent. Enter all answers as positive values. Enter your answers in the given order of Check numbers. CHECKING ACCOUNT RECONCILIATION For the Month of November, 2015 Accountholder Name(s): Mateo Gonzalez Type of Account: NOW Account - First State Bank 1.Ending balance shown on bank statement Add up checks and withdrawals still outstanding: Check Number or Amount Date $ $ $ $ $ ATM 11-24 ATM 11-27 TOTAL $ $ 2. Deduct total checks/withdrawals still outstanding from bank balance Add up deposits still outstanding: Date 11/21/15 Amount $ 11/30/15 $ TOTAL $ 3. Add total deposits still outstanding to bank balance A. Adjusted Bank Balance 4. Ending balance shown in checkbook 5. Deduct any bank service charges for the period 6. Add interest earned for the period 3. New Checkbook Balance Note: Your account is reconciled when line A equals line B