Using the following information, prepare a bank reconciliation. Bank balance: $4,178 Book balance: $1,949 Deposits in transit: $323 Outstanding checks: $108 and $434 Bank charges: $25 Notes receivable: $2,000; interest: $35

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Using the following information, prepare a bank reconciliation.

  • Bank balance: $4,178
  • Book balance: $1,949
  • Deposits in transit: $323
  • Outstanding checks: $108 and $434
  • Bank charges: $25
  • Notes receivable: $2,000; interest: $35

 

Bank Reconciliation

Bank Statement Balance at (date)   $fill in the blank 1
Add:    
 
  Deposits in Transit
Less:    
 
  Outstanding Checks
Adjusted Bank Balance   $fill in the blank 6
     
Book Balance at (date)   $fill in the blank 7
Add:    
 
$- Select -  
 
- Select - - Select -
Less:    
 
  - Select -
Adjusted Book Balance   $fill in the blank 15
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