Respuesta :
Answer:
Bank Reconciliation Statement:
Balance as per bank Statement $9,100
Balance as per Cash Book: $6,830
Less: Bank Charges: $(10)
Add: Note Collection in bank: $420
Adjusted cash book balance $7,240
Add: Outstanding Checks $2,460
Less: Uncleared Deposits $600
Balance as per cash book: $9,100
Explanation:
Starting point to prepare bank statement is to calculate adjusted cash bank balance by making transactions recorded in bank but not in cash book i.e bank charges and direct deposits.
After that timing differences are adjusted for checks sent for payment but not presented yet in bank to be paid often know as un presented checks and uncleared deposits.
Answer:
Bank reconciliation for Cullumber Company for May 31, 2022
Amount in $ Amount in $
Balance per bank statement 9,100
Less:
Outstanding checks 2,460
collection of note by bank 420
Subtotal (2,880)
Add:
Deposit in transit 600
Bank service charge 10
Subtotal 610
Balance per cash book 6,830
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement.
This is usually as a result of transactions known as reconciling items. These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
