megan used a reconciliation worksheet provided by her bank. line 5 should equal line 6 at the end of the…

megan used a reconciliation worksheet provided by her bank. line 5 should equal line 6 at the end of the reconciliation, but it does not.\nfriendly bank reconciliation worksheet\tamount\n1. enter the statement closing balance.\t$ 487 13\n2. enter the sum of any outstanding deposits or credits.\t$ 186 68\n3. add lines 1 and 2.\t$ 673 81\n4. enter the sum of any outstanding checks or debits.\t$ 174 01\n5. subtract line 4 from line 3.\t$ 499 80\n6. enter your checkbook balance.\t$ 362 60\nnote: lines 5 and 6 should be equal at the end of the reconciliation.\nmegan wants to first look for a single transaction that could have caused this problem with reconciliation. what is the amount of the transaction that megan should look for in order to find a solution to the problem?\n a. $325.79\n b. $137.20\n c. $12.67\n d. $313.20

megan used a reconciliation worksheet provided by her bank. line 5 should equal line 6 at the end of the reconciliation, but it does not.\nfriendly bank reconciliation worksheet\tamount\n1. enter the statement closing balance.\t$ 487 13\n2. enter the sum of any outstanding deposits or credits.\t$ 186 68\n3. add lines 1 and 2.\t$ 673 81\n4. enter the sum of any outstanding checks or debits.\t$ 174 01\n5. subtract line 4 from line 3.\t$ 499 80\n6. enter your checkbook balance.\t$ 362 60\nnote: lines 5 and 6 should be equal at the end of the reconciliation.\nmegan wants to first look for a single transaction that could have caused this problem with reconciliation. what is the amount of the transaction that megan should look for in order to find a solution to the problem?\n a. $325.79\n b. $137.20\n c. $12.67\n d. $313.20

Answer

Explanation:

Step1: Identify the adjusted bank balance.

The adjusted bank balance is shown on Line 5 of the worksheet. $$ \text{Line 5} = $499.80 $$

Step2: Identify the checkbook balance.

The checkbook balance is shown on Line 6 of the worksheet. $$ \text{Line 6} = $362.60 $$

Step3: Calculate the difference between the balances.

The problem states Lines 5 and 6 should be equal. The difference represents the amount of the single transaction causing the discrepancy. $$ \text{Difference} = \text{Line 5} - \text{Line 6} $$

Step4: Perform the subtraction.

Subtract the checkbook balance from the adjusted bank balance. $$ \text{Difference} = $499.80 - $362.60 = $137.20 $$ This difference is the amount of the single transaction Megan should look for.

Answer:

b. $137.20