Question

Question 2

John Snow’s chequebook lists the following:

Date		Cheque #	Item	Cheque	Deposit	Balance
Nov	1					$505
	4	622	Horizon Utility	$39		466
	9		Dividends		$116	582
	13	623	Canadian Tire	43		539
	14	624	Petro-Canada	58		481
	18	625	Cash	50		431
	26	626	Faith of the Seven Church	25		406
	28	627	Affordable Housing	275		131
	30		Paycheque		746	877

The November bank statement shows:

Balance	$505
Add deposits	116
Deduct cheques	Amount 622               $39 623                43 624                85 625                50
Other charges:
NSF cheque	$8
Service charge	12
Balance	$384

   1. Prepare John Snow’s bank reconciliation at November 30th.

Answer 1

John Snow’s
Bank Reconciliation
At November 30
Bank statement balance	384	Book balance	877
Add:		Add:
Deposit in transit	746
	1,130		877
Less:		Less:
Outstanding check		Bank service charges	-12
Check no (626,627)	-300	NSF Check	-8
		Correction of check no 624	-27
Adjusted bank balance	$830	Adjusted book balance	$830

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