In this part of the practice set, the student will prepare a Bank Reconciliation

Question

In this part of the practice set, the student will prepare a Bank Reconciliation for the month of January. Start by using the ending balance in your cash account for the cash for your books and the ending balance on the bank statement for the bank balance. Requirements Correct Errors: Correct any errors that you made on the journal entries. Both the debits and the credits must equal each other. Bank Reconciliation: Using the cash balance per books and the bank statement, prepare a bank reconciliation. An example of the Bank reconciliation is located at the back of this practice set. Record Bank Reconciliation Adjustments: After you have prepared the bank reconciliation you must make any adjusting journal entries to your cash account by entering them in the general journal of the practice set so that the general ledger cash account agrees with the bank reconciliation. Assume that any errors are made by the bank. After preparing the bank reconciliation answer the questions in Blackboard and then staple the bank reconciliation to the back cover. 1. 2. 3. 4. 5.

Explanation / Answer

Ivans' Instrument Center Bank Reconciliation for the month of January 2018 Balance as per bank book 36098 Balance as per cash book 21790 Add: Add: Deposit #6 5413 Check #1009 480 Deposit #7 4871 Check #1010 8000 Service Charge 30 Check #1011 13430 Differece on check 1012 180 Check #1013 2692 Check #1014 200 Total Aditions 10494 Total Aditions 24802 Subtract: Subtract: Check #1009 480 Deposit #6 5413 Check #1010 8000 Deposit #7 4871 Check #1011 13430 Service Charge 30 Check #1013 2692 Differece on check 1012 180 Check #1014 200 Total Deductions 24802 10494 Balance as per cash book 21790 Balance as per bank book 36098

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