Question 1

All checking accounts earn interest.

Accepted Answer

A) True 
 B)False

Question 2

Electronic funds transfer does not use paper checks.

Accepted Answer

A) True 
 B)False

Question 3

Mia Wong's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $60.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What is the reconciled checkbook balance?

Accepted Answer

A)  $3,527
B)  $5,327.50
C)  $3,627.50
D)  $3,267.50
E)  None of theseF) B) and D)
G) All of the above

Question 4

Electronic funds transfer:

Accepted Answer

A)  Uses paper checks
B)  Uses some paper checks
C)  Does not use paper checks
D)  Is a manual transfer system
E)  None of theseF) None of the above
G) B) and E)

Question 5

Checks written that do not appear on your bank statement are:

Accepted Answer

A)  Paid from the previous month
B)  Not written correctly
C)  Appear as a deposit
D)  Credited to savings
E)  None of theseF) A) and C)
G) C) and D)

Question 6

Sandi's checking account had a balance of $4627.36; her bank statement's balance was $10,275.46. A service fee of $37.00 also appeared on her statement. What was the total of all outstanding checks?

Accepted Answer

A)  $10,238.48
B)  $5,685.10
C)  $5,611.11
D)  $6,115.10
E)  None of theseF) A) and C)
G) A) and E)

Question 7

Calculate the balance carried forward:

Accepted Answer

The answer of Calculate the balance carried forward:
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Exam 4: Banking

Electronic funds transfer does not use paper checks.

Correct Answer
verified

Calculate the balance carried forward:

Correct Answer
verified

Electronic funds transfer:

Correct Answer
verified

Checks written that do not appear on your bank statement are:

Correct Answer
verified

All checking accounts earn interest.

Correct Answer
verified

Sandi's checking account had a balance of $4627.36; her bank statement's balance was $10,275.46. A service fee of $37.00 also appeared on her statement. What was the total of all outstanding checks?

Correct Answer
verified

Correct Answer
verified

Exam 4: Banking

Electronic funds transfer does not use paper checks.

Correct AnswerverifiedShow Answer

Calculate the balance carried forward:

Correct AnswerverifiedShow Answer

Electronic funds transfer:

Correct AnswerverifiedShow Answer

Checks written that do not appear on your bank statement are:

Correct AnswerverifiedShow Answer

All checking accounts earn interest.

Correct AnswerverifiedShow Answer

Sandi's checking account had a balance of $4627.36; her bank statement's balance was $10,275.46. A service fee of $37.00 also appeared on her statement. What was the total of all outstanding checks?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified