Question

Chapter 5 Bank Reconciliation Numbers Corporation February 28 bank statement has an ending cash balance of $2,567. On February 28, Numbers Corporation check register shows a cash balance of $860. After comparing the check register items to the bank statement, the following items were noted: a) Outstanding checks total $2,250 b) Interest paid by the bank on the statement C) NSF check from a customer 32 d) Deposit in transit 1,900 e) Service fees charged by the bank Direct deposit payment from a customer on the bank statement 1,400 g) Check #345 to Safety Insurance was written for $615; the bank paid the check for $615; this check was recorded in the cash account of the company's records for $600. Prepare a bank reconciliation for Numbers Corporation.

Answer 1

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Numbers Corporation
Bank reconciliation statement	Amount			Amount
Balance as per books	860.00		Balance as per bank	2,567.00
Add:			Add:
b. Interest paid by bank not recorded in books	12.00		d. Deposit in transit	1,900.00
f. Direct deposit by customer	1,400.00
Less:			Less:
e. Service charges by bank	8.00		a. Outstanding cheque	2,250.00
c. NSF cheque from customer	32.00
g. Payment for safety insurance wrongly recorded (615-600)	15.00
Reconciled balance as per books	2,217.00		Reconciled balance as per bank	2,217.00