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Intermediate Accounting: Reporting...
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Intermediate Accounting: Reporting...
(Appendix 6.1) At the end of April, Meyer Company had a $7,890 balance in its cash account, while its bank statement for April showed an ending cash balance of $7,200. The April bank statement showed $10 of interest earned by Meyer on its checking account and a $200 NSF check written by one of Meyer’s customers. Meyer’s records show a $600 deposit in transit and $100 of outstanding checks at the end of April. Prepare the bank reconciliation of Meyer for April.
Prepare bank reconciliation statement for Company M for the month ended April.
Bank reconciliation:
Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books.
Prepare bank reconciliation statement for Company M for the month ended April.
| Company M | ||
| Bank Reconciliation | ||
| April 30, 2019 | ||
| Particulars | Amount in $ | Amount in $ |
| Balance per bank statement, April 30 | Â | 7,200.00 |
| Â Add: Deposits in transit | Â | 600.00 |
| Â | Â | 7,800... |
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