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28 Sep 2019
Explain the importance of Bank Reconciliation Statement and give real examples explaining all possible items that make differences between cash balance in general ledger and bank statement balance.
Explain the importance of Bank Reconciliation Statement and give real examples explaining all possible items that make differences between cash balance in general ledger and bank statement balance.
Nestor RutherfordLv2
30 Sep 2019
Related questions
MATRIX INC. BANK RECONCILIATION | |
Cash balance per bank | $8,500 |
Cash balance per books (general ledger) | $7,320 |
Outstanding checks | $3,6000 |
Check mailed to the bank for deposit had | |
not reached the bank by the statement | |
date. | $2,050 |
NSF check returned by the bank for | |
accounts receivable | $200 |
July interest earned on the bank statement | $10 |
Check no. 700 for misc. expense cleared | |
the bank for $200; erroneously recorded | |
in the Matrix books for $20 | |
Prepare a bank reconciliation. | |
Shown the accounting entries that must be made by Matrix injournal entry and T-Account format. | |
