Question

computing checking account balance. based on the following information,determine the true balance in your checking account.
balance in your checkbook-$356
balance on bank statement,$472
service charge and other fees, $15
interest earned on account $4
total outstanding checks $187
despoit in transit $60

Answer 1

to determine the balance in my checking account I would do the following;
bank balance $472 - outstanding checks $187 + deposit transit $60= 345

checkbook balance $356 +interest earned $4 - service charge $15=345