Question

find the current balance for the account.
balance from bank statement outstanding checks deposits not yet recorded
$7170.25 $44.78 $655.22
$531.88 $71.57
$76.67
$87.97

the current balance is $\square.

Explanation:

Step1: Calculate total outstanding checks

We sum up all the outstanding checks amounts: $44.78 + 531.88 + 76.67 + 87.97$.
First, $44.78 + 531.88 = 576.66$.
Then, $576.66 + 76.67 = 653.33$.
Finally, $653.33 + 87.97 = 741.3$.

Step2: Calculate total deposits not yet recorded

We sum up the deposits not yet recorded amounts: $655.22 + 71.57 = 726.79$.

Step3: Calculate current balance

The formula for current balance is: Balance from Bank Statement - Total Outstanding Checks + Total Deposits not yet Recorded.
So, $7170.25 - 741.3 + 726.79$.
First, $7170.25 - 741.3 = 6428.95$.
Then, $6428.95 + 726.79 = 7155.74$.

Answer:

7155.74