nancy has a balance of $1,078 in her check register. the balance on her bank account statement is $885.84…

nancy has a balance of $1,078 in her check register. the balance on her bank account statement is $885.84. not reported on her bank statement are deposits of $575 and $250 and two checks for $195 and $437.84. does her checking account balance? explain.

nancy has a balance of $1,078 in her check register. the balance on her bank account statement is $885.84. not reported on her bank statement are deposits of $575 and $250 and two checks for $195 and $437.84. does her checking account balance? explain.

Answer

Explanation:

Step1: Calculate total deposits

Add the two deposits: $575 + 250=$825$.

Step2: Calculate total checks amount

Add the two - check amounts: $195+437.84 = $632.84$.

Step3: Adjust the check - register balance

Subtract the total check amount from the sum of deposits and the initial check - register balance. The initial check - register balance is $1078$. So, $1078+825 - 632.84$. First, $1078+825=$1903$, then $1903-632.84=$1270.16$.

Step4: Compare with bank statement balance

The bank statement balance is $885.84$. Since $1270.16\neq885.84$, her checking account balance does not match.

Answer:

No, her checking account balance does not match. The adjusted balance in her check - register is $1270.16$ while the balance on her bank statement is $885.84$.