Financial Math Miller 1. On the back of Elise's monthly statement, she listed the following outstanding...
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Financial Math Miller 1. On the back of Elise's monthly statement, she listed the following outstanding withdrawals: #123, $76.09 ; #117, $400 ; # 130, $560.25; debit card, $340.50; and #138 , $83.71. She also determined that a deposit for $500 and the other for $328.90 are outstanding. Using these outstanding transactions, what adjustment will have to be made to her statement balance? 2. Pina filled out the following information on the back of her monthly statement: Ending balance from statement Deposits outstanding Total of checks outstanding $1,139.78 + $280.67 - $656.91 $ $763.54 Revised statement balance Balance from checkbook Find Pina's revised statement balance. Does her account reconcile? 3. Tasha filled out the following information on the back of her bank statement: Ending balance from statement $764.22 Deposits outstanding + $387.11 - $455.32 Total of checks outstanding Revised statement balance $ $669.01 Balance from checkbook Find Tasha's revised statement balance. Does her account reconcile? 4. Lenny opened a checking account last month. Today he received his first statement. The statement listed five deposits and 24 checks that cleared. Lenny's check register shows nine outstanding checks. How many checks has Lenny written since the last statement? 5. Arden's checking account charges a $21 monthly maintenance fee with no per check fee. He wants to switch to a different account with a fee of 18 cents per check and a $15 monthly maintenance fee. The following information is about his last five monthly statements. Month Apr Month Feb May Number of Checks on Statement 24 33 Month Mar June Number of Checks on Statement 37 41 Number of Checks on Statement 35 a. What is the mean number of checks Arden wrote per month during the last five months? b. About how much should Arden expect to pay per month for the new checking account? c. What advice would you give Arden? 3.2 Reconcile a Bank Statement Assignment Miller Financial Math 6. Below you will find Mitch West's monthly statement and his check register. Use them to complete parts a - e in his checking account summary. Does his account reconcile? Checking Account Summary Ending balance from statement Ending Balance from Statement Deposits Outstanding Total of Checks Outstanding Revised statement balance Balance from Checkbook a. + b. -c. d. e. $764.22 Mitch West 23 Sycamore Lane Benridge, NY 10506 DATE 8/16 8/20 8/22 W/D DESCRIPTION NUMIR OR DATE COOF 1056 WID DEPOSIT 8/22 W/D 8/23 W/D 8/25 W/D 8/26 W/D 8/27 DEPOSIT 9/1 W/D CHECK NUMBER 1056 Debit card 1058 Debit Card 1060 1059 1061 TRANSACTION OF SCRIPTION 8/18 Car Nation 8/20 Deposit 10598/21 Print Makers 1060 8/22 Book Bonanza 8/15 Best Offer Inc. 1057 8/16 Dept. of Motor Vehicles 1058 8/16 AutoWorld 8/23 Fast Freddy's Fast Food 8/27 Deposit 1061 8/30 Lincoln Savings Bank 1062 9/1 VOID 1063 9/1 Pasta Pete's 9/2 Deposit STARTING BALANCE -$2,312.70 BALANCE TRANSACTION AMOUNT PAYMENT AMOUNT 256 00 86 50 334 90 234 81 56 00 145 78 34 72 ACCOUNT NUMBER: 456213-A232 STATEMENT PERIOD: 5/15-6/15 230 00 32 50 $256.00 $1,200.80 $234.81 $ 334.90 $34.72 $ 145.78 $ 56.00 $ 150.00 $ 230.00 ENDING BALANCE FFF DEMOST AMOUNT 1,200 80 150 00 300 00 $2,368.29 $8/2, 309.70 - 256.00 2.053.70 - 86.50 1.967.20 -334.90 1.632.30 -234.81 1397.49 +1,200.80 2.598.29 - 56.00 2.542.29 -145.78 2.396.51 - 34.72 2.361.79 + 150.00 2.511.79 - 230.00 2.281.79 -32.50 2.249.29 +300.00 2.549.29 Financial Math Miller 1. On the back of Elise's monthly statement, she listed the following outstanding withdrawals: #123, $76.09 ; #117, $400 ; # 130, $560.25; debit card, $340.50; and #138 , $83.71. She also determined that a deposit for $500 and the other for $328.90 are outstanding. Using these outstanding transactions, what adjustment will have to be made to her statement balance? 2. Pina filled out the following information on the back of her monthly statement: Ending balance from statement Deposits outstanding Total of checks outstanding $1,139.78 + $280.67 - $656.91 $ $763.54 Revised statement balance Balance from checkbook Find Pina's revised statement balance. Does her account reconcile? 3. Tasha filled out the following information on the back of her bank statement: Ending balance from statement $764.22 Deposits outstanding + $387.11 - $455.32 Total of checks outstanding Revised statement balance $ $669.01 Balance from checkbook Find Tasha's revised statement balance. Does her account reconcile? 4. Lenny opened a checking account last month. Today he received his first statement. The statement listed five deposits and 24 checks that cleared. Lenny's check register shows nine outstanding checks. How many checks has Lenny written since the last statement? 5. Arden's checking account charges a $21 monthly maintenance fee with no per check fee. He wants to switch to a different account with a fee of 18 cents per check and a $15 monthly maintenance fee. The following information is about his last five monthly statements. Month Apr Month Feb May Number of Checks on Statement 24 33 Month Mar June Number of Checks on Statement 37 41 Number of Checks on Statement 35 a. What is the mean number of checks Arden wrote per month during the last five months? b. About how much should Arden expect to pay per month for the new checking account? c. What advice would you give Arden? Financial Math Miller 1. On the back of Elise's monthly statement, she listed the following outstanding withdrawals: #123, $76.09 ; #117, $400 ; # 130, $560.25; debit card, $340.50; and #138 , $83.71. She also determined that a deposit for $500 and the other for $328.90 are outstanding. Using these outstanding transactions, what adjustment will have to be made to her statement balance? 2. Pina filled out the following information on the back of her monthly statement: Ending balance from statement Deposits outstanding Total of checks outstanding $1,139.78 + $280.67 - $656.91 $ $763.54 Revised statement balance Balance from checkbook Find Pina's revised statement balance. Does her account reconcile? 3. Tasha filled out the following information on the back of her bank statement: Ending balance from statement $764.22 Deposits outstanding + $387.11 - $455.32 Total of checks outstanding Revised statement balance $ $669.01 Balance from checkbook Find Tasha's revised statement balance. Does her account reconcile? 4. Lenny opened a checking account last month. Today he received his first statement. The statement listed five deposits and 24 checks that cleared. Lenny's check register shows nine outstanding checks. How many checks has Lenny written since the last statement? 5. Arden's checking account charges a $21 monthly maintenance fee with no per check fee. He wants to switch to a different account with a fee of 18 cents per check and a $15 monthly maintenance fee. The following information is about his last five monthly statements. Month Apr Month Feb May Number of Checks on Statement 24 33 Month Mar June Number of Checks on Statement 37 41 Number of Checks on Statement 35 a. What is the mean number of checks Arden wrote per month during the last five months? b. About how much should Arden expect to pay per month for the new checking account? c. What advice would you give Arden? 3.2 Reconcile a Bank Statement Assignment Miller Financial Math 6. Below you will find Mitch West's monthly statement and his check register. Use them to complete parts a - e in his checking account summary. Does his account reconcile? Checking Account Summary Ending balance from statement Ending Balance from Statement Deposits Outstanding Total of Checks Outstanding Revised statement balance Balance from Checkbook a. + b. -c. d. e. $764.22 3.2 Reconcile a Bank Statement Assignment Miller Financial Math 6. Below you will find Mitch West's monthly statement and his check register. Use them to complete parts a - e in his checking account summary. Does his account reconcile? Checking Account Summary Ending balance from statement Ending Balance from Statement Deposits Outstanding Total of Checks Outstanding Revised statement balance Balance from Checkbook a. + b. -c. d. e. $764.22 Mitch West 23 Sycamore Lane Benridge, NY 10506 DATE 8/16 8/20 8/22 W/D DESCRIPTION NUMIR OR DATE COOF 1056 WID DEPOSIT 8/22 W/D 8/23 W/D 8/25 W/D 8/26 W/D 8/27 DEPOSIT 9/1 W/D CHECK NUMBER 1056 Debit card 1058 Debit Card 1060 1059 1061 TRANSACTION OF SCRIPTION 8/18 Car Nation 8/20 Deposit 10598/21 Print Makers 1060 8/22 Book Bonanza 8/15 Best Offer Inc. 1057 8/16 Dept. of Motor Vehicles 1058 8/16 AutoWorld 8/23 Fast Freddy's Fast Food 8/27 Deposit 1061 8/30 Lincoln Savings Bank 1062 9/1 VOID 1063 9/1 Pasta Pete's 9/2 Deposit STARTING BALANCE -$2,312.70 BALANCE TRANSACTION AMOUNT PAYMENT AMOUNT 256 00 86 50 334 90 234 81 56 00 145 78 34 72 ACCOUNT NUMBER: 456213-A232 STATEMENT PERIOD: 5/15-6/15 230 00 32 50 $256.00 $1,200.80 $234.81 $ 334.90 $34.72 $ 145.78 $ 56.00 $ 150.00 $ 230.00 ENDING BALANCE FFF DEMOST AMOUNT 1,200 80 150 00 300 00 $2,368.29 $8/2, 309.70 - 256.00 2.053.70 - 86.50 1.967.20 -334.90 1.632.30 -234.81 1397.49 +1,200.80 2.598.29 - 56.00 2.542.29 -145.78 2.396.51 - 34.72 2.361.79 + 150.00 2.511.79 - 230.00 2.281.79 -32.50 2.249.29 +300.00 2.549.29 Mitch West 23 Sycamore Lane Benridge, NY 10506 DATE 8/16 8/20 8/22 W/D DESCRIPTION NUMIR OR DATE COOF 1056 WID DEPOSIT 8/22 W/D 8/23 W/D 8/25 W/D 8/26 W/D 8/27 DEPOSIT 9/1 W/D CHECK NUMBER 1056 Debit card 1058 Debit Card 1060 1059 1061 TRANSACTION OF SCRIPTION 8/18 Car Nation 8/20 Deposit 10598/21 Print Makers 1060 8/22 Book Bonanza 8/15 Best Offer Inc. 1057 8/16 Dept. of Motor Vehicles 1058 8/16 AutoWorld 8/23 Fast Freddy's Fast Food 8/27 Deposit 1061 8/30 Lincoln Savings Bank 1062 9/1 VOID 1063 9/1 Pasta Pete's 9/2 Deposit STARTING BALANCE -$2,312.70 BALANCE TRANSACTION AMOUNT PAYMENT AMOUNT 256 00 86 50 334 90 234 81 56 00 145 78 34 72 ACCOUNT NUMBER: 456213-A232 STATEMENT PERIOD: 5/15-6/15 230 00 32 50 $256.00 $1,200.80 $234.81 $ 334.90 $34.72 $ 145.78 $ 56.00 $ 150.00 $ 230.00 ENDING BALANCE FFF DEMOST AMOUNT 1,200 80 150 00 300 00 $2,368.29 $8/2, 309.70 - 256.00 2.053.70 - 86.50 1.967.20 -334.90 1.632.30 -234.81 1397.49 +1,200.80 2.598.29 - 56.00 2.542.29 -145.78 2.396.51 - 34.72 2.361.79 + 150.00 2.511.79 - 230.00 2.281.79 -32.50 2.249.29 +300.00 2.549.29
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Business Law The Ethical Global and E-Commerce Environment
ISBN: 978-0071317658
15th edition
Authors: Jane Mallor, James Barnes, Thomas Bowers, Arlen Langvardt
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