Bank Reconcilation statement
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I am conducting a review inro how to properly record bookkeeping errors. Could you provide some assistance? Thanks.
Problem (also attached):
Describe how you would record each of the errors, listed below, on a cash reconciliation.
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.
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Solution Summary
This explains the recording of errors of Bank Reconcilation statement
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Complete the following tasks:
Describe how you would record each of the errors, listed below, on cash reconciliation.
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 ...
Purchase this Solution
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