Answered

Look at the table below showing an example of a checkbook ledger.

| Check Number | Date | Description | Amount Debited | Amount Credited | Balance |
|--------------|------|-------------|----------------|-----------------|---------|
| 57 | | ATM | [tex]$200 | $[/tex]6000 | [tex]$5100 |
| 262 | 37 | Grocery | $[/tex]50.50 | | [tex]$3050 |
| 58 | | Paycheck | | $[/tex]1200.00 | [tex]$1450 |

Adrienne has several receipts from recent transactions that she entered in her records. The receipts include:
- An ATM receipt for a $[/tex]60.00 withdrawal (plus a [tex]$2.00 transaction fee)
- A grocery store receipt for $[/tex]32.50
- A [tex]$1,200 paycheck deposit slip

When she finishes entering her transactions, Adrienne realizes that her balance is incorrect. Assuming that Adrienne's beginning account balance was $[/tex]320.00, why is her balance incorrect?

A. Adrienne forgot to include the [tex]$2.00 ATM transaction fee.
B. Adrienne did not use $[/tex]320.00 as her starting balance.
C. Adrienne deducted [tex]$23.50 from her balance instead of $[/tex]32.50.
D. Adrienne did not enter her ATM withdrawal correctly.



Answer :

GinnyAnswer
To solve this problem and identify the reason for the discrepancy in Adrienne's balance, let's go through each transaction step-by-step and calculate the correct balance.

1. Starting balance:
Adrienne starts with a balance of \[tex]$320.00. 2. ATM transaction: Adrienne withdraws \$[/tex]60.00 and incurs a \[tex]$2.00 transaction fee. - New balance after ATM withdrawal is calculated as: \(\$[/tex]320.00 - \[tex]$60.00 - \$[/tex]2.00 = \[tex]$258.00\) 3. Grocery store transaction: Adrienne spends \$[/tex]32.50 at the grocery store.
- New balance after grocery transaction is calculated as: [tex]\(\$258.00 - \$32.50 = \$225.50\)[/tex]

4. Paycheck deposit:
Adrienne deposits \[tex]$1,200.00 from her paycheck. - New balance after paycheck deposit is calculated as: \(\$[/tex]225.50 + \[tex]$1,200.00 = \$[/tex]1,425.50\)

Based on these transactions, the correct final balance should be \[tex]$1,425.50. However, Adrienne realizes that her final balance is incorrect. Given the options: 1. Adrienne forgot to include the \$[/tex]2.00 ATM transaction fee.
2. Adrienne did not use \[tex]$320.00 as her starting balance. 3. Adrienne deducted \$[/tex]23.50 from her balance instead of \[tex]$32.50. 4. Adrienne did not enter her ATM withdrawal correctly. Let's check option 3 to see if there is a deduction mistake: If Adrienne deducted \$[/tex]23.50 instead of \[tex]$32.50 for the grocery transaction: - Balance after corrected grocery deduction would be: \(\$[/tex]258.00 - \[tex]$23.50 = \$[/tex]234.50\)
- New balance after paycheck deposit would be: [tex]\(\$234.50 + \$1,200.00 = \$1,434.50\)[/tex]

This means if Adrienne deducted \[tex]$23.50 instead of \$[/tex]32.50 for groceries, her final balance would be \[tex]$1,434.50 instead of \$[/tex]1,425.50.

Given the results:
- Correct final balance should be \[tex]$1,425.50. - Incorrect final balance due to deduction mistake would be \$[/tex]1,434.50.

The discrepancy in Adrienne's balance matches the scenario where she deducted \[tex]$23.50 instead of \$[/tex]32.50 from her balance for the grocery store transaction.

Therefore, the reason for Adrienne's balance being incorrect is:
Adrienne deducted \[tex]$23.50 from her balance instead of \$[/tex]32.50.