To reconcile the balance per book to the balance per bank will require adjusting the book balance by: $661 $727 $733 $648
You are performing a bank reconciliation for August 20X1. The balance per bank is $21,863; the ledger Cash balance, $17,250. Outstanding checks are as follows:
Check Number Amount
2003 $ 560
2004 910
2008 1,700
2009 2,110
You have also identified the following:
- A $13 bank service charge for August
- An NSF check for $720
- Check #1996, made out to Local Gas & Electric for $798, was booked as $870
- A $6 charge for your bank’s Web Banking, which the company does not use
To reconcile the balance per book to the balance per bank will require adjusting the book balance by:
- $661
- $727
- $733
- $648
Bank Reconciliation is the process of reconciling the errors due to which the book balance of cash and Cash per bank balance are not equal. It is about identifying the error and make correct reconciliation either in bank balance or in cash book.
If reconciliation is to be done balance per book then we must ignore the total outstanding checks of $5,280 ($560 +$910+ $1,700 + $2,110) and Web Banking service fee of $6 because they are the adjustments to to the bank balance. and not to the book balance.
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