Reconciling An Account:
- Is the process of adjusting the checkbook register and bBank Statement So they Agree.
- The Bank Statement Lists Checks, Withdrawals, Deposits, Service Charges, Interest, and Fees.
- Consider Deposits in Transits, Outstanding Checks, and Transposition Error.
Reconcile the Account:
Items Outstanding:
Number:
Amount:
1): Enter New Balance Shown on Statement: $6875.09, $6965.92
2): Add any deposits or Transfers Listed in your register that are not shown on your statement: $701.56 + 421.78 + $689.35
3): TOTAL
4): Calculate The Sub-Total
5): Subtract Your Total Oustanding Checks and Withdrawals:
- Check # 421 ====> $371.52
- Check # 424 ====> $429.07
- Check # 427 ====> $883.69
- Check # 429 =====> $35.62
6): Calculate the Ending Balance, This Amount should be the same as the Current Balance in your Check Register:
Exercise # 12 ===========> Same Concept:
Hope that helps!!!! : )
