Mary's last bank statement showed an ending balance of $141.37. This month, she deposited $ 542.07 in her account and withdrew a total of $206.25. Furthermore, Mary wrote a total of five checks, two of which have cleared. The two checks that have cleared total $121.65. The three remaining checks total $92.29. Mary pays no fees at her bank. What is the balance shown this month on Mary's bank statement? What is the adjusted bank balance?

Question

Elliana Keith

Business

27 May, 22:54

Mary's last bank statement showed an ending balance of $141.37. This month, she deposited $ 542.07 in her account and withdrew a total of $206.25. Furthermore, Mary wrote a total of five checks, two of which have cleared. The two checks that have cleared total $121.65. The three remaining checks total $92.29. Mary pays no fees at her bank. What is the balance shown this month on Mary's bank statement? What is the adjusted bank balance?

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Answers (1)

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Gallagher · Answer 1

Mary's bank balance is $355.54

The adjusted bank balance is $263.25

Explanation:

The movement in the balance of Mary's bank statement is as a result of the deposits and withdrawals (including checks) made over the month.

Whilst the deposits increases the bank balance, the withdrawals reduces it.

Hence Mary's bank balance

= $141.37 + $542.07 - $206.25 - $121.65

=$355.54

The adjusted bank balance will be

= $355.54 - $92.29

= $263.25