1. Bank statement received by bank =$2,950.00 Check# 124 payment less or didn’t return from bank = $1080 Check# 138 payment less or didn’t return from bank = $720 Transit payment = $3200 Adjusted Bank Balance = $4350

Broom showed checking account balance =$4010 Charging for check printing= $12 Charging for NSF check = $18 Withdrawal record missing by Broom =$30 Note collected for Broom by bank =$400 Adjusted Book Balance = $4350

2. Let Erasers be represented by “e” and pencils by “p”
Total number of cartons of pencils and erasers are e + p = 15 (1)

5e + 7p = 85 (2)

e = 10 & p = 5
Cartons of erasers = 10
Cartons of pencils = 5

3. % age change = (1.59-1.10)/1.10 % = 44.55% 4. $5,000 =100%
$100= 2%
$500-$100=$4,900
$4900*.09 =$441
$4,900 *.07=$343
$441+$343=$784
$4900-$784=$4116+$50=$4266
Ans=$4266
5. Price Pat Sullivan sell to her customers = $85 Amount she paid to the trader = $85 – $ (45/100*85) = $46.75 6. Gross Pay: $1200
Less Health Ins: (42.50)
Taxable Pay: 1157.50
SS Tax: 71.77 (1157.50 *.062)
Medicare Tax: 16.78 (1157.50 *.0145)
FIT: 91.79
Net Pay: 977.17

FIT calcualted as follows: Taxable less allowances (1157.50 less (71.15*4) = 872.9 9. * .15)-39.15 = 91.79 7. Total money Lisa Kane borrowed = $ 8000 Interest on 60-day note = 8% Balance to return = $8000 + 8% of $8000 = $8640 After 45 days Lisa paid $2000 so amount left =$8640-$2000 = $ 6640 On 45th Day Lisa Paid $1000 so amount due = $6640-$1000 = $5640 Total Interest = ordinary Interest = 8% 8. Bob's proceeds: Discount on the note is calculated as follows: Maturity Value * Discount Rate * Discount Period = Discount