Question

Marta Fuentes had a balance of $1,200.50 in her checking account. The bank issued her a credit of

$505 and charged her $12 for new checks. Thee will be no outstanding checks or deposits. What
should her checkbook balance be?

Answer 1

$683.50

Explanation:

Initial balance of Marta Fuentes = $1200.50

Charge made by her bank;

Credit of $505 and Charge on new checks is $12.

Total charge incurred = $505+$12

Total charge incurred = $517

Since there will be no outstanding checks or deposit, her checkbook balance will be the difference between the initial balance and amount charged by the bank.

Checkbook balance = $1200.50 - $517

Checkbook balance = $683.50

Hence her checkbook balance should be $683.50