Question

The Cash account of Reitmeier Corp. reported a balance of $3,600 at October 31, 2016. Included were outstanding checks totaling $1,600 and an October 31 deposit of $400 that did not appear on the bank statement. The bank statement, which came from Tumpike State Bank, listed an October 31 balance of $5,388. Included in the bank balance was an October 30 collection of $614 on account from a customer who pays the bank directy. The bank statement also shows a $16 service charge, $20 of interest revenue that Reitmeier eamed on its bank balance, and an NSF check for $30. Prepare a bank reconciliation to determine how much cash Reitmeier actually has at October 31. (Include the balances at October 31 in each of the addition subtotal Reitmeier Corp. Bank Reconciliation October 31, 2016 Bank Books Balance, October 31 Balance, October 31 Add: Add: Outstanding checks Deposit in transit Subtotal Subtotal Less: Less: Adiusted bank baianceAd Adjusted book balance Choose from any list or enter any number in the input fields and then click Check Answer. Clear All Check Answer remaining

Answer 1

		Bank Reconcilation
Bank				Books
Balance,October 31			5,388	Balance,October 31			3,600
Add:				Add:
Deposit in transit			400	collection from customer			614
				interest revenue			20
Subtotal			5,788
				Subtotal			4,234
less:				less:
outstanding checks			1,600	service charge		16
				NSF		30	46
Adjusted bank balance			4,188	Adjusted book balance			4,188