For the following errors, explain how much and where to report on a cash reconciliation
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Given the following errors:
1. The bank recorded a deposit of $200 as $2,000.
2. The company's bookkeeper mistakenly recorded a deposit of $530 as $350.
3. The company's bookkeeper mistakenly recorded a payment of $250 received from a customer as $25 on the bank deposit slip. The bank caught the error and made the deposit for the correct amount.
4. The bank statement shows a check written by the company for $255 was erroneously paid (cleared the account) as $225.
5 . The bookkeeper wrote a check for $369 but erroneously wrote down $396 as the cash disbursement on the company's records.
You are to complete the following task:
For each error, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation.
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Solution Summary
The solution tells how much and where the amount should be entered on the reconcilation.
Education
- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
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