Question

On Dec. 31 the checkbook balance of Aster Co. was $1,241.05. The bank statement balance was...

On Dec. 31 the checkbook balance of Aster Co. was $1,241.05. The bank statement balance was $1,510. Checks outstanding were $3,052.03. The statement revealed a deposit in transit of $2,800.10 as well as a bank service charge of $12.03. The company earned interest income of $29.05. Complete a bank reconciliation for Aster Co.

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Answer #1
Aster Co.
Bank Reconciliation Statement for Dec 31
Particulars Amount Amount
Balance as per Checkbook $1,241.05
Add:
Outstanding Cheques $3,052.03
Interested credited by bank not recorded in books $29.05
Total of Addition (B) $3,081.08
Total (C = A + B) $4,322.13
Less:
Deposit in Transit $2,800.10
Bank charges not taken in the books $12.03
D = Total of Deuctible $2,812.13
Balance as per bank Statement (C+D) $1,510.00
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