Personal Finance 1st Edition by Jack R. Kapoor

Exercise 15

Computing Checking Account Balance. Based on the following information, determine the true balance in your checking account. (See page 163) (Obj 5)

Balance in your checkbook, $356

Balance on bank statement, $472

Service charge and other fees, $15

Interest earned on the account, $4

Total of outstanding checks, $187

Deposits in transit, $60

Step 1 of 2

Given:

Balance in your checkbook	356
Balance on bank statement	472
Service charge and other fees	15
Interest earned on the account	4
Total of outstanding checks	187
Deposits in transit	60

What is the true balance in checking account?