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

Business

Bryan Burke

4 January, 16:34

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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Jason Riggs · 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