Using the check register below and the following bank statement, prepare a bank

Question

Using the check register below and the following bank statement, prepare a bank reconciliation for Lee.com. (Input all amounts as positive values. Round your answers to 2 decimal places.)

A local bank began charging $4.10 each month for returning canceled checks. The bank also has an $9.20 "maintenance" fee if a checking account slips below $750.00. Donna Sands likes to have copies of her canceled checks for preparing her income tax returns. She has received her bank statement with a balance of $661.88. Donna received $7.18 in interest and has been charged for the canceled checks and the maintenance fee. The following checks were outstanding: No. 94, $144.67; No. 96, $148.10; No. 98, $249.71; and No. 99, $74.40. A deposit of $791.05 was not recorded on Donna's bank statement. Her checkbook shows a balance of $842.17.

Prepare Donna’s bank reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.)

Banks are finding more ways to charge fees, such as a $33.10 overdraft fee. Sue McVickers has an account in Fayetteville; she has received her bank statement with this $33.10 charge. Also, she was charged a $10.60 service fee; however, the good news is she earned $14.15 interest. Her bank statement’s balance was $590.45, but it did not show the $1,394.95 deposit she had made. Sue’s checkbook balance shows $691.00. The following checks have not cleared: No. 250, $662.75; No. 253, $417.40; and No. 254, $243.80.

Prepare Sue’s bank reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.)

a. Calculate the percent discount Ryan is offering.

Percent discount              %

b. Calculate the percent passenger travel will increase.

Percent passenger travel             %

c. Calculate the sales for new year.

Sales for new year            $

d. Calculate Janice’s loss if she cancels one round-trip flight.

Janice’s loss            $

e. Approximately how many more cancellations can Ryan Airlines expect (after Janice’s cancellation)? (Round down your answer to nearest whole number.)

No of cancellations             people

RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT DATE DESCRIPTION OF PAYMENT/ DEBIT FEE
(IFANY) DEPOSIT/ CREDIT BALANCE NUMBER 2015 TRANSACTION (–) ? (–) (+) $ 4,770.00 959 7/7 AT+T $156.80 $ $ –156.80 4,613.20 960 7/15 Staples 71.20 –71.20 4,542.00 7/19 Deposit 725.00 725.00 5,267.00 961 7/20 West Electric 489.68 –489.68 4,777.32 962 7/24 Bank of America 415.94 –415.94 4,361.38 7/29 Deposit 439.80 439.80 $ 4,801.18

Explanation / Answer

Per Chegg guidelines, please post independent questions separately. Thank you.

Lee.com Bank Reconciliation Lee.com checkbook balance 4801.18 Bank balance 4908.76 Add: Deposit in transit 439.8 Deduct: Deduct: Service charge 13.5 Outstanding checks 560.88 Ending checkbook balance 4787.68 Ending bank balance 4787.68

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