Kameron gibson’s bank statement showed a balance of $1,020.35. kameron’s checkbook had a balance of $282.10. check no. 104 for $150.70 and check no. 105 for $16.35 were outstanding. a $666.60 deposit was not on the statement. he has his payroll check electronically deposited to his checking account—the payroll check was for $1,260.90. there was also a $10.70 teller fee and an $12.40 service charge. prepare kameron gibson’s bank reconciliation. (input all amounts as positive values. round your answers to 2 decimal places.)

Prepare Kameron Gibson’s bank reconciliation.

Cash  282,1

Books  

Payroll Check       1260,9

Checks written  150,7

Checks written  16,35

Deposit not in stat.-666,6

Banks  

Bank service fee  -12,4

NSF Check         -10,7

Bank conciliation  1020,35

Bank account                 1020,35

Explanation:

Cash  282,1

Books  

Payroll Check       1260,9

Checks written  150,7

Checks written  16,35

Deposit not in stat.-666,6

Banks  

Bank service fee  -12,4

NSF Check         -10,7

Bank conciliation  1020,35

Bank account                 1020,35

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.

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