Share
Explore BrainMass

Bank Reconcilation statement

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.

Attachments

Solution Preview

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 ...

Solution Summary

This explains the recording of errors of Bank Reconcilation statement

$2.19