Question

question 9 of 10
the beginning balance on the monthly bank statement for ikes checking account was $194.58, and the ending balance was $371.93. what can be said about ikes transactions for the month?

a. he had $177.35 more in debits than in credits.

b. he had $566.51 more in credits than in debits.

c. he had $177.35 more in credits than in debits.

d. he had $566.51 more in debits than in credits.

Explanation:

Step1: Understand the relationship between balances and transactions

The ending balance is calculated as \( \text{Beginning Balance} + \text{Credits} - \text{Debits} \). Let \( C \) be credits and \( D \) be debits. So, \( \text{Ending Balance} = \text{Beginning Balance} + C - D \).

Step2: Rearrange the formula to find the difference between credits and debits

We can rearrange the formula to find \( C - D \):
\( C - D=\text{Ending Balance}-\text{Beginning Balance} \)

Step3: Substitute the given values

The beginning balance is $194.58 and the ending balance is $371.93. Substitute these values into the formula:
\( C - D = 371.93 - 194.58 \)

Step4: Calculate the difference

\( 371.93 - 194.58 = 177.35 \)
This means \( C - D = 177.35 \), so Ike had $177.35 more in credits than in debits.

Answer:

C. He had $177.35 more in credits than in debits.