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
6.7k points