Question

Complete the following table for a monthly bank reconciliation dated January 31. For each item 1-10, place an "x" in the appropriate column to indicate whether the item should be added or subtracted from the book or bank balance or not shown on the bank reconciliation 1. Night deposit made on January 31 after the bank closed. 2. A check written in February of the same year as the bank statement 3. Principal and interest on a note collected by the bank but not yet recorded by the company. 4. Bank charge for collection of note in item # 3 on behalf of the company. 5. Interest earned on the cash balance in the bank account. 6. A check listed as outstanding on the prior month's bank reconciliation is still outstanding. 7. Bank incorrectly deducted another company's check si 8. A bank service fee was charged for printing checks. 9. Checks written by the company and mailed to payees on January 31. 10. An error was made when the company's bookkeeper recorded a January 29 check in the company's books. The check to pay the rent was recorded in the books as $1300 instead of S1200. (The actual check was written for $1200 and processed by the bank for the correct amount.) Bank Balance Add Deduct Book Balance Add Deduct Not Shown on Reconciliation 1. Night deposit made on January 31 after the bank closed. 2 A check written in February of the same year as the bank statement 3. Principal and interest on note collected by bank but not recorded by the company. 4 Bank charge for collection of note in itom No.3 on company's behalf. 5. Interest oamed on the cash balance in the bank account 6 A check listed as outstanding on the prior month's bank reconciliation is stil outstanding. 7. Bank incorrectly deducted another company's check for $159 from your company's bank account. 8. Abank service fee was charged for printing checks. 9. Checks written by the company and mailed to payees on January 31. 0. Recording error made by bookkeeper. (For detail of error see #10 above.)

Answer 1

Bank Balance Add Deduct Book Balance Add Deduct Not Shown on Reconciliation