The bank statement balance is $700.12, and the checkbook balance is $763.12. The bank had a $10.00 service charge. The depositor earned $2.00 in interest. There were two outstanding deposits of $20 and $50. There were two outstanding checks of $10 and $5. Find the balance by reconciling the bank statement and the checkbook

Answer:The balance by reconciling the bank statement and the checkbook =  $755.12Step-by-step explanation:Given:Checkbook Balance  = $763.12 The bank had $10.00 Service Charge .This means this amount was subtracted from Bank Account but not shown on Checkbook.The depositor earned $2.00 in interest.This means + 2.00 Interest was added to Bank Statement but not Checkbook .There were two outstanding deposits of $20 and $50.This means - 20.00 was added to Checkbook but not Bank Statement and also - 50.00 was added to Checkbook but not Bank Statement.There were two outstanding deposits of $20 and $50.This means + 10.00 was written and subtracted from Checkbook but has not yet gone to the Bank  and also + 5.00 was written and subtracted from Checkbook but has not yet gone to the Bank.Now,$700.12 = Checkbook Reconciled with Bank Statement. Therefore,The true amount in the account as if all deposits and checks and fees and interest had cleared.Bank Statement = $700.12 (Interest of $2 and Service Charge of $10 has already been processed)  + 20.00 (Deposit by customer that is outstanding)  + 50.00 (Deposit by customer that is outstanding)  - 10.00 (Check written that has not cleared the bank)  - 5.00 (Check written that has not cleared the bank) = $755.12 ∴ Actual Account Balance when outstanding items clear the bank = $755.12 .