Question: Using the chart above. You want to open a checking account with a $500 deposit. You believe that that you will write 10 checks per

 Using the chart above. You want to open a checking account

Using the chart above. You want to open a checking account with a $500 deposit. You believe that that you will write 10 checks per month and use other bank's ATMs 5 times a month. You will withdraw $100 each time, from the ATMs. You will be able to maintain a minimum balance of $100 per month. Which bank should you choose? Show work. You have an account at Bank A. Your last balance statement shows an ending balance of $400. This month you deposit $650 in your account and withdrew $450. The you write 6 checks, three of which clears. The three checks that have cleared totals $480. The three remaining un-cleared checks total $370. You pay a $15 fee to your bank that month. What is the adjusted bank balance (accounting for the unclear checks as well)? Show work

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!