Homework Answers
SOLUTION
| Particulars | Amount ($) | Particulars | Amount ($) |
| Checkbook balance | 1,427.15 | Statement balance | 1,641.18 |
| Add: Interest earned and other credits | 62.11 | Add: Deposits in transit | 555.26 |
| Subtotal | 1,489.26 | Subtotal | 2,196.79 |
| Deduct: Service charges and other debits | (8.00) | Deduct: Outstanding checks | (715.53) |
| Adjusted checkbook balance | 1,481.26 | Adjusted statement balance | 1,481.26 |
*Outstanding checks = 167.31 + 245.66 + 302.56 = 715.53
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