79.4k views
2 votes
Help please with this question

Help please with this question-example-1

1 Answer

2 votes

Reconciling An Account:

  • Is the process of adjusting the checkbook register and bBank Statement So they Agree.
  • The Bank Statement Lists Checks, Withdrawals, Deposits, Service Charges, Interest, and Fees.
  • Consider Deposits in Transits, Outstanding Checks, and Transposition Error.

Reconcile the Account:

Items Outstanding:

Number:

Amount:


1): Enter New Balance Shown on Statement: $6875.09, $6965.92

2): Add any deposits or Transfers Listed in your register that are not shown on your statement: $701.56 + 421.78 + $689.35

3): TOTAL

4): Calculate The Sub-Total

5): Subtract Your Total Oustanding Checks and Withdrawals:

  • Check # 421 ====> $371.52
  • Check # 424 ====> $429.07
  • Check # 427 ====> $883.69
  • Check # 429 =====> $35.62

6): Calculate the Ending Balance, This Amount should be the same as the Current Balance in your Check Register:



Exercise # 12 ===========> Same Concept:




Hope that helps!!!! : )



User Pedro Azevedo
by
7.1k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories