Chapter 4.II, Problem 1RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

On April 3. Erin Gardner received her bank statement showing a balance of $2,087.93. Her checkbook showed a balance of $1,493.90. Outstanding checks were $224.15, $327.80, $88.10, $122.42, and $202.67. There was an $8.00 service charge, and the deposits in transit amounted to $813.11. There was an electronic payroll deposit of $450.00. Use the form below to reconcile Erin's account.

To determine

The reconciliation of Erin Gardener’s account if on April

Explanation

**Given Information:**

The provided information is,

Outstanding checks were of amounts

Service charge of

Form for reconciliation is shown below:

Steps for preparation of bank statement reconciliation:

Step I: To check the adjusted checkbook balance, go through the bank statement to locate any credits not recorded in the checkbook, add them to checkbook balance to get a subtotal and locate any debits not recorded in the checkbook, and subtract them from the subtotal.

Step II: To check the adjusted bank balance, go through bank statement and locate all deposits in transit, add them to the statement balance to get a subtotal and locate all outstanding checks, and subtract them from the subtotal

Sect-4.I P-1TIESect-4.I P-2TIESect-4.I P-3TIESect-4.I P-4TIESect-4.I P-1RESect-4.I P-2RESect-4.I P-3RESect-4.I P-4RESect-4.I P-5RESect-4.I P-6RE

Sect-4.I P-7RESect-4.I P-8RESect-4.I P-9RESect-4.I P-10RESect-4.II P-5TIESect-4.II P-1RESect-4.II P-2RESect-4.II P-3RECh-4 P-1CRCh-4 P-2CRCh-4 P-3CRCh-4 P-4CRCh-4 P-5CRCh-4 P-6CRCh-4 P-7CRCh-4 P-8CRCh-4 P-9CRCh-4 P-10CRCh-4 P-11CRCh-4 P-12CRCh-4 P-13CRCh-4 P-14CRCh-4 P-1ATCh-4 P-2ATCh-4 P-3ATCh-4 P-4ATCh-4 P-5ATCh-4 P-6ATCh-4 P-7AT

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