What am I doing wrong?? Some one please help. Should the balances be equal?

Chapter 4 Critical Thinking 4.1 Reconciling the Lamar's Checking Account Scott and Angela Lamar are college students who opened their first joint checking account at the American Bank on September 14, 2015. They've just received their first bank statement for the period ending October 5, 2015. The statement and checkbook ledger are shown in the table on the next page. Critical Thinking Questions 1. From this information, prepare a bank reconciliation for the Lamars as of October 5, 2015, using a form like the one in Worksheet 4.1. 2. Given your answer to Question 1, what, if any, adjustments will the Lamars need to make in their checkbook ledger? Comment on the procedures used to reconcile their checking account and their findings. 3. If the Lamars earned interest on their idle balances because the account is a money market deposit account, what impact would this have on the reconciliation process? Explain. SCOTT AND ANGELA LAMAR THE AMERICAN BANK 2128 E. ARBOR ST. 8000000000 PHOENIX, ARIZONA STATEMENT PERIOD SEPT. 6 - OCT. 5, 2015 Opening Balance Total Total Deposits_fo Checks/Withdrawal Ending Balance r Period $ 0.00 Date s for Period $569.25 $473.86 $95.39 Deposits (Credits) Balance Withdrawals (Debits) Sept. 14 $360.00 $360.00 Sept. 15 97.00 457.00 9.25 421.05 103.00 524.05 Sept. 25 $45.20 Oct. 1 Oct. 1 3.00 BC 521.05 Oct. 4 65.90 Oct. 5 265.00 RT = Returned DM = Debit BC = Bank Check Memo Charges FC = Finance CM = Credit Charges Memo $49.76 $45.00 360.39 95.39 Checkbook Ledger Check Date Number 2015 Sept. 14 Details 3 Check Deposit Account Amount Amount Balance Cashgift from birthday $360.00 $360.00 Sept. 15 Scott's wages 97.00 457.00 101 Sept. 24 Kroger'sgroceries $45.20 411.80 102 Sept. 27 Telephone bill 28.40 383.40 Oct. 1 Scott's wages 103 Oct. 1 Univ. Bk. Sto.college 103.00 486.40 65.90 420.50 16.75 403.75 books 104 Oct. 1 Walmartsewing material 105 Oct. 1 B. Hadleyapartment 265.00 138.75 17.25 121.50 rent 106 Oct. 2 Anthemhealth insurance 107 Oct. 3 Kroger'sgroceries 49.76 71.74 108 Oct. 4 Cash: gas, entertain., 45.00 26.74 laundry Oct. 5 Angela's salary 450.00 476.74 For the month of Accountholder Name(s) Type of Account CHECKING ACCOUNT RECONCILIATION September , Scott and Angela Lamar Checking Account 20 2015 1. Ending balance shown on bank statement $ 95.39 - $ 62.40 + $ 450.00 A Adjusted Bank Balance (1 - 2 + 3) $ 482.99 4. Ending balance shown in checkbook $ 476.74 5. Deduct any bank service charges for the period - $ 3.00 6. Add interest earned for the period + $ - Add up checks and withdrawals still outstanding: Check Number or Date 102 $ 104 106 Amount 28.40 16.75 17.25 Check Number or Date Amount $ TOTAL $ 62.40 2. Deduct total checks/withdrawals still outstanding from bank balance Add up deposits still outstanding: Date Amount 10/05/15 450.00 Date TOTAL $ 3. Add total deposits still outstanding to bank balance B New Checkbook Balance (4 - 5 + 6) Note: Your account is reconciled when line A equals line B. Amount 450.00 $ 473.74