Questions: HW: 2.2 and 2.7 Assignment Question 8 of 26 (1 point) I Question Attempt: 1 of Unlimited A section of a bank statement is shown in the figure. Find the mistake that was made by the bank. Date Action Payment Deposit Balance --- --- --- --- --- 1011.35 Jan. 2 Check #4214 794.32 217.03 Jan. 3 Check #4215 27.29 189.74 Jan. 4 Transfer from savings 450.00 639.74 Jan. 5 Paycheck 1255.21 1894.95 Jan. 6 Cash Withdrawal 50.00 1394.95

HW: 2.2 and 2.7 Assignment
Question 8 of 26 (1 point) I Question Attempt: 1 of Unlimited

A section of a bank statement is shown in the figure. Find the mistake that was made by the bank.

Date Action Payment Deposit Balance
--- --- --- --- ---
1011.35
Jan. 2 Check #4214 794.32 217.03
Jan. 3 Check #4215 27.29 189.74
Jan. 4 Transfer from savings 450.00 639.74
Jan. 5 Paycheck 1255.21 1894.95
Jan. 6 Cash Withdrawal 50.00 1394.95

Transcript text: HW: 2.2 and 2.7 Assignment Question 8 of 26 (1 point) I Question Attempt: 1 of Unlimited A section of a bank statement is shown in the figure. Find the mistake that was made by the bank. \begin{tabular}{|c|l|c|c|c|} \hline Date & \multicolumn{1}{|c|}{ Action } & Payment & Deposit & Balance \\ \hline & & & & $\$ 1011.35$ \\ \hline Jan. 2 & Check \#4214 & $\$ 794.32$ & & $\$ 217.03$ \\ \hline Jan. 3 & Check \#4215 & $\$ 27.29$ & & $\$ 189.74$ \\ \hline Jan. 4 & Transfer from savings & & $\$ 450.00$ & $\$ 639.74$ \\ \hline Jan. 5 & Paycheck & & $\$ 1255.21$ & $\$ 1894.95$ \\ \hline Jan. 6 & Cash Withdrawal & $\$ 50.00$ & & $\$ 1394.95$ \\ \hline \end{tabular}

Solution

Solution Steps

To find the mistake in the bank statement, we need to verify the balance calculations for each transaction. We will start with the initial balance and apply each transaction in sequence to see if the final balance matches the given balance.

Solution Approach

Start with the initial balance.
Subtract the payment amounts and add the deposit amounts for each transaction.
Compare the calculated balance with the given balance after each transaction to identify any discrepancies.

Step 1: Initial Balance

The initial balance is given as $ B_0 = 1011.35 $.

Step 2: Transaction Calculations

We will calculate the balance after each transaction:

January 2: Payment of $ 794.32 $ \[ B_1 = B_0 - 794.32 = 1011.35 - 794.32 = 217.03 \]
January 3: Payment of $ 27.29 $ \[ B_2 = B_1 - 27.29 = 217.03 - 27.29 = 189.74 \]
January 4: Deposit of $ 450.00 $ \[ B_3 = B_2 + 450.00 = 189.74 + 450.00 = 639.74 \]
January 5: Deposit of $ 1255.21 $ \[ B_4 = B_3 + 1255.21 = 639.74 + 1255.21 = 1894.95 \]
January 6: Payment of $ 50.00 $ \[ B_5 = B_4 - 50.00 = 1894.95 - 50.00 = 1844.95 \]

Step 3: Compare with Expected Balances

The expected balance after each transaction is as follows:

After January 2: $ 217.03 $
After January 3: $ 189.74 $
After January 4: $ 639.74 $
After January 5: $ 1894.95 $
After January 6: $ 1394.95 $

After the last transaction on January 6, the calculated balance is $ 1844.95 $, while the expected balance is $ 1394.95 $. This indicates a discrepancy.

Step 4: Identify the Mistake

The discrepancy occurs after the transaction on January 6, where the expected balance was $ 1394.95 $ but the calculated balance was $ 1844.95 $. This suggests that the bank incorrectly processed the payment of $ 50.00 $ or miscalculated the previous transactions.

Final Answer

The mistake made by the bank was in the calculation of the balance after the transactions. The final balance should have been $ \boxed{1394.95} $ instead of $ 1844.95 $.

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