Question

robertas monthly bank statement says that she has a balance of 386.29, but robertas check register says that her balance is 370.77. which of the following are still outstanding? i. a $78.17 check to the electric company ii. a $16.15 deposit from robertas roommate iii. a $22.67 check to the grocery store iv. a $62.65 deposit from robertas tax return a. i and ii b. ii and iii c. ii and iv d. i and iv

Explanation:

Step1: Calculate the difference in balances

$386.29 - 370.77= 15.52$

Step2: Analyze the transactions

Let's consider the effect of each transaction on the balance - checks decrease the balance and deposits increase the balance.
For a check of amount $C$ and a deposit of amount $D$, we need to find which combination of $C$ and $D$ can account for the difference.
Let's consider the net - effect of each pair of transactions.
If we consider a check of $\$78.17$ (decrease) and a deposit of $\$62.65$ (increase), the net effect is $62.65−78.17=- 15.52$. This means that if these two transactions are outstanding (the check has not cleared and the deposit has not been fully processed), it can account for the difference between the bank - statement balance and the check - register balance.

Answer:

d. I and IV