math confusion!!!!?

Question

On June 30, 2007, Wally's Company's bank statement showed a $7,829.32 bank balance. Wally has a beginning checkbook balance of $7,500. The bank statement also showed that it collected a $1,100.50 note for the company. A $1,800.10 June 30 deposit was in transit. Check no. 119 for $760.88 and check No. 130 for $291.44 are outstandng. Wally's bank charges 30 cents per processed check. This month, Wally wrote 78 checks. Prepare Wally's reconciliation statement.

Answer 1

Bal. per bank statement $7,829.32
Add:
Deposit in transit $1,800.10
Less:
Outstanding cheques
No. 119 ($760.88)
No. 130 ($291.44)
Adjusted bal. per bank statement $8,577.10

Bal. per cash book $7,500
Add:
Note received $1,100.50
Less:
Bank charges ($23.40)
Adjusted bal. per cash book $8,577.10

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Answer 2

Wally's ENDING check book balance was 7,500., not his beginning balance.

Wally would take the 7,500. ending balance and add the note collected that he had not added to his balance. Then he would deduct the check charge. (.30)(78) = 23.40

7,500. + 1,100.50 - 23.40 = 8,577.10 Wally's corrected balance

Wally would the take the bank's ending balance and add the deposit in transit, then deduct the outstanding checks.

7,829.32 + 1,800.10 - 1,052.32 = 8,577.10 bank's corrected balance

8,577.10 = 8,577.10 reconciliation complete