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Kenneth is having a terrible time balancing his checkbook He had outstanding checks that totaled 323.14 an ending balance of 232.54 and outstanding deposits of 125.98 His checkbook register bal?
Wiki User
∙ 13y ago
Outstanding Checks = $323.14
Current Bank Balance = $232.54
Outstanding Deposits = $125.98
Final Balance = Current balance + Outstanding deposits - outstanding checks
= 232.54 + 125.95 - 323.14
= 35.35
The final balance on Kenneth's account will be $35.35
Wiki User
∙ 13y ago
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Checkbook Balancer?
Checkbook Balancer Let us help you balance your checkbook. First tell us the ending balance on your statement, then enter all of your outstanding checks and deposits. If your checkbook register matches our calculated amount, your checkbook is balanced! If not, you may need to verify that all of your withdrawals and deposits are correct and accounted for.
Why is making a record of withdrawals and deposits in your checkbook register a good practice?
Making a record of deposits and withdrawals is important because it helps your balance your check register. Without documenting your deposits and withdrawals, it is hard to keep up with how much money is in the bank and you may bounce a check.
Dustin had five outstanding checks that totaled 117.54. What should his check register balance be if he had an ending balance of 599.43 and outstanding deposits that totaled 235.14?
717.03
What balance should appear in your checkbook register?
1,205.86
What money-handling tasks have you performed IE Balancing a cash drawer cash register usage bank deposits credit card transaction etc?
If a person worked as a cashier, they might be able to list all of their former jobs held that dealt with the handling of money when asked what cash register, bank deposits, credit card transactions, and IE balancing have been performed in the past.
Checkbook Balancer?
Checkbook Balancer Let us help you balance your checkbook. First tell us the ending balance on your statement, then enter all of your outstanding checks and deposits. If your checkbook register matches our calculated amount, your checkbook is balanced! If not, you may need to verify that all of your withdrawals and deposits are correct and accounted for.
What is the process of matching your checkbook register with a bank statement?
The process of comparing a checkbook register with a bank statement is generally called a "bank reconciliation". Assume that you started business on January 1 and have just received your January 31 bank statement. Make a reconciliation worksheet, with the beginning balance equal to the ending balance shown on the January 31 bank statement. Then compare everything in your check register to the items on the bank statement. Check that all January deposits you recorded in the register also appear on your bank statement. Any deposits you made that hasn't "hit" the bank yet is called Deposit in Transit (DIT). Add total DIT to the bank balance, because the bank balance is "short" by that amount. Checks you wrote in January: Compare the check register with the checks that appear as cashed on your bank statement. Any check that is in the register but has not yet been paid by the bank is an "outstanding check". Make a list of all outstanding checks and get a total, Subtract the total of outstanding checks from the beginning bank balance. Then, adjust your check register for fees that the bank deducted or interest the bank paid that you did not record in the register during the month. Record those items on the register to get an adjusted register balance. Finally, put it all together: Bank ending balance + Deposits in transit - Outstanding checks SHOULD = The balance in your checkbook. If your actual checkbook balance does not equal this number, you either made a mathematical error or you missed something in the reconciliation process. Do it again.
Why is making a record of withdrawals and deposits in your checkbook register a good practice?
Making a record of deposits and withdrawals is important because it helps your balance your check register. Without documenting your deposits and withdrawals, it is hard to keep up with how much money is in the bank and you may bounce a check.
Dustin had five outstanding checks that totaled 117.54 What should his check register balance be if he had an ending balance of 599.43 and outstanding deposits that totaled 235.14?
717.03
Dustin had five outstanding checks that totaled 117.54. What should his check register balance be if he had an ending balance of 599.43 and outstanding deposits that totaled 235.14?
717.03
Where can one find a free printable checkbook register?
One is able to find a free and printable checkbook register at several different online and retail locations such as the following places: Printable Paper, Clean Mama, and Believing Boldly.
What balance should appear in your checkbook register?
1,205.86
What money-handling tasks have you performed IE Balancing a cash drawer cash register usage bank deposits credit card transaction etc?
If a person worked as a cashier, they might be able to list all of their former jobs held that dealt with the handling of money when asked what cash register, bank deposits, credit card transactions, and IE balancing have been performed in the past.
What is the purpose of a checkbook register?
To keep track of the amount of money in your checking account
What is a purpose of a checkbook register?
To keep track of the amount of money in your checking account
What is the first step toward reconciling your checkbook register?
The first step is to gather the documentation needed to complete the reconciliation: the check register, the bank statement and the previous reconciliation. While you can complete the following steps in any sequence, I think it makes sense to first compare the reconciling items from the previous statement to make sure they are no longer reconciling items: have all outstanding checks been presented, have any deposits in transit been credited, bank fees recorded, etc. Then you would compare all checks recorded in the register to those which have cleared the bank, noting any discrepancies. Then do the same for deposits. Finally, identify any charges or credits on the bank statement which were not posted to the check register. As long as you complete the reconciliation, it really doesn't matter which step you do first. I believe the above sequence makes the process easier.
What is a checkbook register?
It is a booklet used to record checking account transactions. To keep track of the amount of money in your checking account
