1. Refer to the check register and bank statement to answer the questions.
(a) In the check register, what balance should have been entered on 7/31?
(b) On the bank statement, what should have been entered for the total deposits?
(c) On the bank statement, what should have been entered for the total withdrawals?
(d) On the bank statement, what should have been entered for the ending balance?
(e) Which transaction caused an overdraft, and what was the overdraft amount?
(f) Is the final balance in the register correct? Show how you know.
(g) Why doesn’t the 8/6 ATM withdrawal appear on the bank statement?
Answer:
+37146 A. Paycheck 645.30 should be added to balace of 411.07
B. Wellll....just add the two deposits!
C. Add the total debits
D. Beginning balance - debits + deposits
E. Look for the negative balance....cable bill caused this
F. Check it to see
G. Staement period says it only goes through 8/3
Okay , thank you but there is another question that was left out:
Company A offers a semimonthly salary of $2432, and Company B offers a biweekly salary of $2390. Which company pays a greater annual salary?
+37146 Semi monthly is 12 * 2 = 24 times per year
Bi weekly is (generally) every two weeks = 52/2 = 26 times a year
24 * 2432
or
26 * 2390 which is greater?
