Question

BANK STATEMENT   Date Checks Deposits Other Balance   May 1       $ 520            4       #2

BANK STATEMENT

  Date Checks Deposits Other Balance
  May 1       $ 520
           4       #2 $ 90 $ 130 560
          12       #4 180 NSF Check $130 250
          28       #5 100 150
          30       #6 95 520 575
  May 31       #8 135 Service charge 85 355
Cash (A)
  May 1 520  
  May 3 130      90 May 3 #2  
         90   May 4 #3  
         180 May 8 #4
         100 May 11 #5  
          95 May 21 #6
  May 29 520       105 May 29 #7
  May 30 310     135 May 30 #8
  May 31 685  

  

Bank Reconciliation
May 31
Bank Statement Company's Books
Ending Balance per Bank Statement Ending Balance per Cash Account $685
Additions: Additions:
Deposit in Transit
Outstanding Checks #5
0 0
0 685
Deductions: Deductions:
NSF Check Outstanding Checks #3
Bank Service Charges Outstanding Checks #7
0 0
Up-to-Date Cash Balance $0 Up-to-Date Cash Balance $685

Homework Answers

Answer #1

Solution :

Bank Reconciliation - May 31
Bank's Cash balance Company's cash balance
Particulars Amount Particulars Amount
Ending balance as per Bank Statements $355.00 Ending Balance as per cash books $685.00
Additions: Additions:
Outstanding deposit - May 31 $310.00
Deductions: Deductions:
Outstanding Checks - 3 $90.00 NSF Cheque $130.00
Outstanding Checks - 7 $105.00 Service Charge $85.00
Up to date cash balance as per bank $470.00 Up to date cash balance as per books $470.00
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