Question

Erin has a balance of $1,123.72 in her check register. On her statement, the balance of her account is $879.87.

Not reported on the bank statement are deposits of $62.42, $21, and $61.14. There are outstanding checks in the
amount of $60.24 and $50.24 and an ATM withdrawal of $40. After Erin reconciles her check register with her
statement, what entry does she need to make in her register?

Answer 1

Answer: After reconciling her check register with her statement, Erin needs to make the following entry in her register: $1123.72 - $879.87 + $62.42 + $21 + $61.14 - $60.24 - $50.24 - $40 = $226.23. This is the updated balance in Erin's account after accounting for all the transactions that were not reflected on her bank statement.