Description
The July bank statement for A & H Iron Works shows a balance of $37.94 and a service charge of $8.00. The account register shows deposits of $650 and $375.56 that do not appear on the statement. Checks in the amounts of $217.45, $57.82, $17.45, and $58.62 are outstanding. The register before reconciliation is $720.16. Reconcile the bank statement with the account register using the form in figure 4-48.
$ | | BALANCE AS SHOWN ON BANK STATEMENT | | BALANCE AS SHOWN IN YOUR REGISTER | $ | | | |
$ | | TOTAL OF OUTSTANDING DEPOSITS | | SUBTRACT AMOUNT OF SERVICE CHARGE | | | | |
$ | | NEW TOTAL | | NEW TOTAL | $ | | | |
-$ | | SUBTRACT TOTAL OF OUTSTANDING CHECKS | | ADJUSTMENTS IF ANY | $ | | | |
$ | | YOUR ADJUSTED STATEMENT BALANCE | SHOULD <----------> EQUAL | YOUR ADJUSTED REGISTER BALANCE | $ | | | |
| | | | | | | | |
Outstanding Deposits (Credits)$ | Outstanding Checks (Debits)$ | |||||||
Date | Amount | Check Number | Date | Amount | ||||
| $ | | | | $ | | ||
| - | | | | | | ||
| | | | | | | ||
| | | | | | | ||
| | | | | | | ||
| | | | | | | ||
Total | $ | | | | $ | | ||
| | | | | | | | |
FIGURE 4-48 | ||||||||
Account Reconciliation Form |
Explanation & Answer
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BALANCE ON BANK
STATEMENT
TOTAL OF
OUTS...
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