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20 November, 04:30

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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  1. 20 November, 07:25
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    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
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